SOLUTION: Find the discount D and the amount the borrower receives (proceeds) PR for the discount loan. M = $960, d = 6.25%, t = 10 months D = $ PR = $

SOLUTION: Find the discount D and the amount the borrower receives (proceeds) PR for the discount loan. M = $960, d = 6.25%, t = 10 months D = $ PR = $

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Question 1131680: Find the discount D and the amount the borrower receives (proceeds) PR for the discount loan.
M = $960, d = 6.25%, t = 10 months
D = $
PR = $
Answer by MathLover1(20849) (Show Source): You can put this solution on YOUR website!
= $,
%, =>
months=>

= $
The Proceeds, , of the loan is the actual amount the borrower receives from the loan is given by

= $

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