True/False
When a company obtains an interest-only business bank loan and is required to make annual interest payments on the principal borrowed and repay the full principal at the maturity date,the type of interest is called simple interest.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q8: An $8000 bank deposit earning compound interest
Q9: What is the simple annualised interest rate
Q10: Calculate the effective annual interest rate if
Q11: The term 'simple',with regard to interest,refers to
Q12: The present value of an ordinary annuity
Q14: If you invest $1600 for a year
Q15: If you borrow $100 000 for 90
Q16: In regard to an annuity,if the first
Q17: When will a future value calculated with
Q18: If you are saving for an overseas