You Want to Borrow $1,000 at an Interest Rate of 10%.The

Multiple Choice

You want to borrow $1,000 at an interest rate of 10%.The most expensive method of calculating the dollar cost of the interest on this installment loan will be the

A) add-on method.
B) double-declining balance method.
C) discount method.
D) simple interest method.
E) past-due balance method.