Multiple Choice
If the add-on method is used to calculate a finance charge of $150.80 on a $2,200 loan, the amount to be:
A) repaid is $2,200.
B) disbursed to the borrower is $2,049.20.
C) repaid is $2,350.80.
D) disbursed to the borrower is $2,350.80.
E) disbursed to the borrower is $150.80.
Correct Answer:
Verified
Correct Answer:
Verified
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