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MMLU-Pro / 6869 / What is meant by a bank loan that is called a 7 percent discount?

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

What is meant by a bank loan that is called a 7 percent discount?

category

economics

options

  1. A 7 percent discount loan means the interest is reduced by 7 percent from the standard rate.
  2. A 7 percent discount loan means the borrower doesn't have to pay interest.
  3. A 7 percent discount loan is where the borrower receives $ 93 today and pays back $ 100 in a year.
  4. A 7 percent discount loan is where the borrower receives $107 today and pays back $100 in a year.
  5. A 7 percent discount loan is where the borrower receives $ 100 today and pays back $ 93 in a year.
  6. A 7 percent discount loan means that the lender discounts the total repayable amount by 7 percent as a promotion.
  7. A 7 percent discount loan is where the borrower pays 7 percent interest upfront and then repays the principal after a year.
  8. A 7 percent discount loan means the borrower's repayment amount decreases by 7 percent each year.
  9. A 7 percent discount loan means the borrower pays back 7 percent less than what they borrowed.
  10. A 7 percent discount loan is where the borrower receives the full amount borrowed and pays back only 93 percent of it.

src

stemez-Economics

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Source and history

upstream_id / Original problem ID
6869
task_id
c6004776-1a32-5414-93d2-5b0b43d2ac61
task_key
default--test--6869
task_revision_id
1
config / split
default / test

Official source

initial import