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Aton can borrow at simple interest or a discounted loan: whi

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Aton can choose from two loan offers: $12,000 at 8% simple interest for 9 months, or a $12,000 9-month discounted loan at 7% discount. Based on the actual interest paid and the true rate on the discounted loan, which of the two loan offers will Aton CHOOSE? Explain your answer.

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Aton can choose from two loan offers: $12,000 at 8% simple interest for 9 months, or a $12,000 9-month discounted loan at 7% discount. Based on the ...

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