Thrifty Home Loan Corp

question 39

Short Answer

Thrifty Home Loan Corp. uses the discount method of calculating finance charges. For the two loans below, calculate the discount amount that Thrifty charges and the proceeds that go to the borrower. Then, calculate the actual interest rate which is based on the proceeds rather than the face value. Use a 360-day year and compute actual rates to the nearest 1/100 of a percent.​

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Definitions:

Exhale Slowly

A breathing technique often advised to reduce stress or improve lung function, involving a controlled and gradual release of breath.

Vibrates

The act of moving back and forth rapidly in a small movement, often as a result of mechanical action or acoustic energy.

Postural Drainage

A physiotherapy technique used to assist in the clearance of secretions from the airways and lungs by positioning the body in specific ways to utilize gravity.

Chronic Bronchitis

A long-term condition characterized by inflammation of the bronchi in the lungs, leading to persistent coughing and production of sputum.