Under the simple interest method A) the APR is applied to the outst
Under the simple interest method
A)
the APR is applied to the outstanding balance on the loan.
B)
interest is deducted from the credit extended at the beginning of the loan.
C)
interest is added to the credit extended at the beginning of the loan.
D)
interest is a simple percentage of the initial amount borrowed.
ANSWER
A
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