Question

A discounted loan of $7584 at a simple discount rate of 5.8% is offered to Mr Jones. If the actual amount of money that Mr Jones receive today is 4622, when is the 7584 due to be paid back. Hint: Calculate t, in years.


a.
11.05

b.
6.73

c.
27.75

d.
45.53

Answer 1

Answer:

6.73 is the ans

Step-by-step explanation:

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