Answer to Question #299509 in Financial Math for rejoyce

Question #299509

Patric borrows money from Zanele at a simple discount rate of 9,75% per annum. He must pay him R35 000 in 27 months' time. The amount of money that he receives from Zanele now is

Expert's answer

Hence, the amount of money that he receives from Zanele now is R 28,703.23.

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