Determine the dollar amount of interest

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The following three one-year "discount" loans are available to you:Loan A: $123,585 at a 5.0 percent discount rate

Loan B: $113,585 at a 4.0 percent discount rate

Loan C: $133,585 at a 4.5 percent discount rate

Determine the dollar amount of interest you would pay on each loan and indicate the amount of net proceeds each loan would provide. (Round answers to 0 decimal place, e.g. 5275.)

Reference no: EM132764633

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