Multiple Choice
Which of the following is a true statement regarding interest calculation methods?
A) Interest is calculated on either a straight-basis or a delayed-basis.
B) Interest is calculated on either a straight-basis or an undiscounted-basis.
C) If a borrower receives a loan on a discount-basis, the APR will be less than the simple interest.
D) If a borrower receives a loan on a discount-basis, the APR will be more than the simple interest rate.
Correct Answer:
Verified
Correct Answer:
Verified
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