Answer number 4. Kindly please type the answer 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?

Mortgage/ Borrowings: A mortgage represents a credit given to the borrower by the lender for the…

Answered: 4. You borrowed $10,000 on a 10%…

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

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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 ?