12. Assume that you borrowed P dollars for a time t, where t is measured in years, at a simple interest rate of r percent, and that you agreed to repay the loan by making a total of n payments, where the payments were computed by Payment = (1) P + Prt] r is the advertised simple interest rate (a false rate) .k is the number of payments in one year t is the length of the loan measured in years n is the total number of payments in the loan, then the true interest rate rt is given by A) rt = r (1) B) rt = 2931 C) rt = *** D) re = 27 (11) E) none of these 12. Assume that you borrowed P dollars for a time t, where t is measured in years, at a simple interest rate of r percent, and that you agreed to repay the loan by making a total of n payments, where the payments were computed by Payment = (1) P + Prt] r is the advertised simple interest rate (a false rate) .k is the number of payments in one year t is the length of the loan measured in years n is the total number of payments in the loan, then the true interest rate rt is given by A) rt = r (1) B) rt = 2931 C) rt = *** D) re = 27 (11) E) none of these