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A SIMPLE DISCOUNT LOAN A simple discount loan has a face value of $1000. The initial investment FOR MORE CLASSES VISIT www.tutorialoutlet.com 1. A simple discount loan has a face value of $1000. The initial investment was $700, and interest was set at 7.5% per year. What was the period of the loan? Round to the nearest year. Equation:t = (1/r)(A/P - 1) Calculation:
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