Up-front bank uses discount loans for all its customers who, Ask an Expert

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Up-Front Bank uses discount loans for all its customers who want one-year loans. Currently, the bank is providing? one-year discount loans at 8.2%.

a. What is the effective annual rate on these loans?

b. If you were required to repay $285,000 at the end of the loan for one year, how much would the bank have given you at the start of the loan?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92750737

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