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Calculate the net proceeds if the debt is a discount loan

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Reference no: EM132932300

Question - A bank customer is granted credit for a $2,000 loan at 10% to be repaid in 12 equal installments.

1. Calculate the net proceeds if the debt is a discount loan.

2. Calculate the monthly payments if the debt is a discount loan.

3. Calculate the annual percentage rate (APR) if the loan quoted has an add-on rate.

Reference no: EM132932300

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