A Simple Interest Installment Loan Calculates Interest on the Unpaid

question 69

Multiple Choice

A simple interest installment loan calculates interest on the unpaid balance.An add-on

• A)calculates the same way with the addition of a factor.
• B)calculates interest on the original balance.
• C)is less costly.
• D)is more costly.
• E)both B and D.

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