Multiple Choice
When the simple interest method is used to determine finance charges,the interest is calculated based on the
A) ending balance of the loan.
B) average outstanding balance.
C) actual balance of the loan.
D) beginning balance of the loan.
E) none of these.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q11: To qualify for a Perkins loan,you must<br>A)demonstrate
Q49: Calculate the average percentage rate (APR)for an
Q53: Sales finance companies commonly purchase the retail
Q54: Choose the word or phrase in [
Q55: INSTRUCTIONS: Choose the word or phrase in
Q57: Sometimes it may be better to use
Q64: If the add-on method is used to
Q77: Choose the word or phrase in [
Q105: If the discount method is used to
Q131: Earnings on 529 college savings plans can