fbpx

Net Proceeds of Loan Assignment | Homework For You

2. Use the following information for questions a) – c).Homework For You

Don't use plagiarized sources. Get Your Assignment on
Net Proceeds of Loan Assignment | Homework For You
Just from $13/Page
Order Now

A bank customer is granted credit for a $100,000 loan at 8.99% to be repaid in 36 equal installments.

a) If the loan is a discount loan, what are the net proceeds of the loan?

b) If the loan is a discount loan, what is the monthly payment?

c) If the loan quoted has an add-on rate, what is the approximate annual percentage rate (APR) on the loan?

Calculate your paper price

Pages(550 words)

Approximate price:-