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Question about Financial Mathematics: Simple Interest

Mathematics

Originais Teachy

Financial Mathematics: Simple Interest

Hard

(Originais Teachy 2023) - Question Hard of Mathematics

A loan of R$ 50,000.00 was contracted with a bank that charges simple interest of 3% per month. After 7 months, the debtor decided to make a partial payment of R$ 30,000.00. Considering that the partial payment was made at the end of the 7-month period, calculate the total interest paid by the debtor since the beginning of the loan. In addition, analyze the situation from the bank's point of view, highlighting how the early partial payment affected the profitability of the loan and explaining the concept of early payment discount.

Answer sheet:

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