bs and Add-On Interest Loan. Beth has just borrowed 57 200 on a four-year loan at 9% simple interest. Using the simple interest method, her payments would be $179.17. What if Beth had made the same loan as an add-on interest loan? How would her payments ditter? Why is there a difference? With an add-on interest loan, Beth's payments would be $ (Round to the nearest cent) If Both had made the same loan as an add-on interest loan the payments would differ by $24 83--the difference between the add on interest payment of 204.00 and the simple interest payment of $179.17 Even though the same interest rate is used for both methods the add-on method is more costly because the interest payment is not reduced over time as Beth pays off the loan, while the interest component of the monthly payment (Select the best answer below.) A. decreases using the simple interest method