Determine end of the loan, Finance Basics

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Determine end of the loan

Problem:

Currently, the bank is providing one-year discount loans at 7.9%. What is the effective annual rate on these loans? If you were required to repay $250,000 at the end of the loan for one year, how much would the bank give you on your loan at the start of te loan?

If you were required to repay $250,000 at the end of the loan for one year, how much would the bank give you on your loan at the start of the loan? (round to the nearest dollar.)

Note: Explain all steps comprehensively.

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Finance Basics: Determine end of the loan

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Finance Basics: Determine end of the loan

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Finance Basics: Determine end of the loan

Reference No:- TGS0877930

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