Multiple Choice
If the add-on method is used to calculate a finance charge of $100.80 on a $1,800 loan, the amount to be:
A) disbursed is $1,900.80.
B) disbursed to the borrower is $1,800.
C) repaid is $1,699.20.
D) repaid to the borrower is $1,800.
E) disbursed to the borrower is $100.80.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: In most cases, lenders take the physical
Q2: Which of the following statements regarding a
Q3: You are borrowing $1,000 with an APR
Q5: Most loans made by savings and loan
Q9: Which of the following is a feature
Q11: Downward Motors has offered Vicki either a
Q24: Jamie is going to buy furniture with
Q25: Most consumer loans are made at fixed
Q29: Consumer finance companies:<br>A) charge rates that are
Q81: The add-on method is less expensive than