If it is given that the loan amount is $130.00, the percent stock requirement is .02, and the credit fee is $18.76.
(i) Calculate the loan principal.
a. $152.47 b. $153.37
c. $151.79 d. $152.44
Enter Response Here:
(ii) Calculate the required stock purchase.
a. $2.66 b. $3.04
c. $4.51 d. $3.62
Enter Response Here: