Jo borrowed $4,750 for 8 months from a bank. The bank discounted the loan at 6.5%....

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Jo borrowed $4,750 for 8 months from a bank. The bank discounted the loan at 6.5%. a. How much interest did Jo pay the bank for the use of its money? b. How much did he receive from the bank? c. What was the actual rate of interest he paid? a. The interest is $ (Round to the nearest cent as needed.) b. The amount of money Jo received is $ (Round to the nearest cent as needed.) ... c. The actual interest rate is %. (Type an integer or decimal rounded to the nearest hundredth as needed.) Jo borrowed $4,750 for 8 months from a bank. The bank discounted the loan at 6.5%. a. How much interest did Jo pay the bank for the use of its money? b. How much did he receive from the bank? c. What was the actual rate of interest he paid? a. The interest is $ (Round to the nearest cent as needed.) b. The amount of money Jo received is $ (Round to the nearest cent as needed.) ... c. The actual interest rate is %. (Type an integer or decimal rounded to the nearest hundredth as needed.)