Short Answer
INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
A finance company uses the discount method of calculating interest. The loan principal is $5,000, the interest rate is 10%, and repayment is expected in two years. You will receive [ $5,000 | $4,000 ] from the lender.
Correct Answer:
Verified
Correct Answer:
Verified
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