When Simple Interest Is Used,the Stated Rate of Interest on Single

question 83

True/False

When simple interest is used,the stated rate of interest on single payment loans is equal to the annual percentage rate (APR).

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Definitions:

Injection

An introduction of income into the economy through investment, government spending, or exports.

Circular Flow

A model in economics that depicts how goods and services and money move through the economy between households, businesses, government, and foreign sectors.

Value Added

The increase in worth of a product or service as a result of a particular process, calculated by the difference between the sale price and the production cost.

Double Counting

The error of including the same transaction or item more than once in a calculation or analysis, leading to inaccurate results.