Bank Discount: discount rate of 7.5% at the end of 15 months

LAWSON

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Feb 12, 2018
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Suppose you were given 25000 by a bank. How much will you be paying back at a discount rate of 7.5% at the end of 15 months
 
Suppose you were given 25000 by a bank. How much will you be paying back at a discount rate of 7.5% at the end of 15 months
Is the rate 7.5% ANNUAL?
Is it simple interest (no compounding)?
What answer did YOU get?
 
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