Under the Simple Interest Method

question 47

Multiple Choice

Under the simple interest method

• A)the APR is applied to the outstanding balance on the loan.
• B)interest is deducted from the credit extended at the beginning of the loan.
• C)interest is added to the credit extended at the beginning of the loan.
• D)interest is a simple percentage of the initial amount borrowed.

---

Definitions:

Flexible

Capable of being easily modified to adapt to new conditions or situations.

Mass Culture

Cultural products and activities produced for and consumed by a large number of people, often characterized by being commercialized and standardized.

Social Classes

Categories of people within a society who hold similar economic, cultural, or social status, often distinguished by disparities in wealth and power.

Cultural Experience

Refers to the exposure or interaction with cultures different from one's own, often leading to increased understanding, respect, and appreciation for diversity.