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If the Discount Method Is Used to Calculate a Finance

question 15

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If the discount method is used to calculate a finance charge of $250.60 on a $2,400 loan, the amount to be:


Definitions:

Subsidizes

Financial aid supplied by the government to an industry or business so that the price of a commodity or service may remain low or competitive.

Steel

A hard, strong alloy made primarily of iron and carbon, used extensively in construction and manufacturing.

Substitutes

Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in the demand for the other.

Demand

The measure of a good or service that patrons are eager and able to procure, across various pricing, throughout a certain duration.

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