Under the discount rate method,interest amount is required to be paid upfront and the customer receives the loan amount net of any interest owed.

Name: Under the discount rate method,interest amount is required to be paid upfront and the customer receives the loan amount net of any interest owed.
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Question

Quizplus · Accepted Answer

In the discount rate method, the interest is deducted from the principal amount at the beginning of the loan period, so the borrower receives the loan amount minus the interest owed upfront.

Under the Discount Rate Method,interest Amount Is Required to Be