it is when interest is paid in advance at the beginning of the loan term on a discount loan
A pure discount loan is the simplest form of a loan. With such a loan, the borrower receives money today and repays a single lump sum in the future. A one year 10% pure discount loan, for example would require the borrower to repay $1.10 in one year for every dollar borrowed today. Hope this helps!
yes
loan proceeds
loan proceeds
it is when interest is paid in advance at the beginning of the loan term on a discount loan
A pure discount loan is the simplest form of a loan. With such a loan, the borrower receives money today and repays a single lump sum in the future. A one year 10% pure discount loan, for example would require the borrower to repay $1.10 in one year for every dollar borrowed today. Hope this helps!
A pure discount loan is the simplest form of a loan. With such a loan, the borrower receives money today and repays a single lump sum in the future. A one year 10% pure discount loan, for example would require the borrower to repay $1.10 in one year for every dollar borrowed today. Hope this helps!
yes
loan proceeds
loan proceeds
loan proceeds
loan proceeds
aplus loan proceeds
9938.20wrong997.95 is correct
977.95
well you get to work in a bank and therefore you get a discount