Answer to Question #206127 in Financial Math for Youssif mhmoud

Question #206127

A man received a 9 months loan 5000$ from a bank of the proceed were 4500 what is discount rate

Expert's answer

Discount rate = $\frac {Original amount - Actual amount} {Original amount}$

Discount Rate = $\frac {5000-4500}{5000}×100 =10\%$

Learn more about our help with Assignments: Math

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. An investment is discounted for 28 days at a simple rate of discount of 4.5% per annum. Calculate
2. 1. Aini can cope with a maximum monthly loan management cost of EUR 1,600. What is the largest possi
3. 1. The interest rate on the straight-line loan is 3.00%. The loan amounts to €12,000 and has a ter
4. Question 17 to 20 are based on the following information: Mr and Mrs Motshabane bought
5. Sam is going to university this year. He wants to pay for his registration and buy himself a laptop
6. Mr Sundani wants to buy a car in three years’ time. He starts investing R3 000,00
7. Zodwa needs R450 550,00 to buy a house. The bank approved her loan for the full amou