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rbayla rbayla
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8 months ago
Which of the following statements concerning the add-on interest method is true?

▸ The lender subtracts the interest due from the principal before the borrower receives the loan proceeds.

▸ Interest is added to the amount borrowed before the payments are calculated.

▸ It results in a lower APR than the simple interest method.

▸ It usually results in a higher APR than the discount interest method.
Textbook 
Personal Finance

Personal Finance


Edition: 2nd
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aedukuyeaedukuye
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8 months ago
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rbayla Author
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