SOLUTION: Joseph borrowed $1700 on a 3.3% discounted loan for a period of 12 months. What is the loan's discount? What is the net amount of money Joseph receives? What is the loan's actual r

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Question 1181269: Joseph borrowed $1700 on a 3.3% discounted loan for a period of 12 months. What is the loan's discount? What is the net amount of money Joseph receives? What is the loan's actual rate of interest? (To the nearest hundredth of a percent)
Answer by ikleyn(52787) About Me  (Show Source):
You can put this solution on YOUR website!
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Answering this question requires some special knowledge in Finance, at least at the level of knowledge the terminology.


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