If the Discount Method Is Used to Calculate a Finance

question 120

True/False

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

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Definitions:

Spread of Electricity

The expansion or dissemination of electric power and its application throughout societies, significantly impacting industrialization, communication, and daily life.

Economy Surged

A term describing a significant and rapid increase in the economic activity and growth of a region or country, often measured by GDP growth.

High Tariff

A government-imposed tax on imported or exported goods, typically used to protect domestic industries from foreign competition or to generate revenue.

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The total amount of money that a country's government has borrowed, by various means.