What size loan should person ask for loan to be repaid
A person needs $2150 today from a lending company that makes loans based on a bank discount rate of 12.5%. What size loan should the person ask for so that he/she walks out with $2150 and the loan is to be repaid in 18 months.
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What size loan should the person ask for so that he/she walks out with $2150 and the loan is to be repaid in 18 months.
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