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3. A loan of $ 1060 has been made at 6.5% for 3 months. Find the loan's future value.

3. A loan of $ 1060 has been made at 6.5% for 3 months. Find the loan's future value.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Answer number 3 please. And kindly type the solution not handwritten. Thank you. 

3. A loan of $ 1060 has been made at 6.5% for 3 months. Find the loan's future value. 4. You borrowed $10,000 on a 10% discounted loan for a period of 8 months. a. What is the loan's discount? b. Determine the net amount of the money you receive. c. What is the loan's actual interest?
Transcribed Image Text:3. A loan of $ 1060 has been made at 6.5% for 3 months. Find the loan's future value. 4. You borrowed $10,000 on a 10% discounted loan for a period of 8 months. a. What is the loan's discount? b. Determine the net amount of the money you receive. c. What is the loan's actual interest?
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