Question: Show solution. Explain each. 3. (Discount Loan) A businessman obtained 50,000 pesos discounted loan for 3 years at 6% simple interest. (a) Find the discount.

Show solution. Explain each.

3. (Discount Loan) A businessman obtained 50,000 pesos discounted loan for 3 years at 6% simple interest. (a) Find the discount. (b) Find the amount of money received by the businessman (c) Find the true interest rate

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