6. calculating finance charges using the discount method and APR on a single-payment Aa Aa loan You are taking out a single-payment loan that uses the discount method to compute the finance charges. Computing the finance charges is done method. Under the discount method, a borrower receives the principal the principal is $10,000 and the finance charges are $400, the borrower will receive$ the way they're computed using the simple interest the finance charges. For example, if The following equation computes the finance charges on your loan: In the equation, Fd is the finance charge for the loan. What are the other values? P is the principal amount of the loan. r is the stated annual rate of interest. t is the term of the loan in You're borrowing $8,000 for a year with a stated annual interest rate of 4%. Complete the following table. (Note: Round your answers to the nearest dollar.) Principa Finance charges Loan disbursement $ Total payback $8,000