please explain and answer b1 Question 13 The following three one-year "discount" loans...
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please explain and answer b1
Question 13 The following three one-year "discount" loans are available to you: Loan A: $123,585 at a 5.0 percent discount rate Loan B: $113,585 at a 4.0 percent discount rate Loan C: $133,585 at a 4.5 percent discount rate (a) Your answer is correct. Determine the dollar amount of interest you would pay on each loan and indicate the amount of net proceeds each loan would provide. (Round answers to 0 decimal place, e.g. 5275.) Interest Net Proceeds Loan A 6179 117406 $ $ Loan B 4543 109042 Loan C 6011 127574 SHOW SOLUTION LINK TO TEXT Attempts: 1 of 2 used Attempts: 1 of 2 used (61) Calculate the percent interest rate or effective cost of each loan. (Round answers to 2 decimal places, e.g. 52.75.) Loan A % Loan B % Loan C % Attempts: 0 of 2 used SAVE FOR LATER SUBMIT ANSWER (b2)
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please explain and answer b1 