Find the finance charges on a 6.5 percent, 18-month, single-payment loan when interest is computed using the simple interest method. Find the finance charges on the same loan when interest is computed using the discount method. Determine the APR in each case.
Answer to relevant QuestionsKristin Simon needs to borrow $4,000. First State Bank will lend her the money for 12 months through a single-payment loan at 8 percent, discount; Home Savings and Loan will make her a $4,000, single-payment, 12-month loan ...Use Worksheet 7.2. Constance Botin wants to buy a home entertainment center. Complete with a big-screen TV, DVD, and sound system, the unit would cost $4,500. Constance has over $15,000 in a money fund, so she can easily ...Discuss some benefits of life insurance in addition to protecting family members financially after the primary wage earners death.Describe the different types of whole life policies. What are the advantages and disadvantages of whole life insurance?What do non-forfeiture options accomplish? Differentiate between paid-up insurance and extended term insurance.
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