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Anna Conda purchased a new Toyota Tundra pickup truck for $35,000 and financed $31,000 with a 5 year, 4% loan.Following the format of the loan

Anna Conda purchased a new Toyota Tundra pickup truck for $35,000 and financed $31,000 with a 5 year, 4% loan.Following the format of the loan disclosure statement, answer the following questions.

The interest charged on this loan is calculated by?

Compound Interest

or Simple Interest

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