QUESTION 1 Calculate the interest at the end of 2020 using the following information Principal $20.000 Interest Rate 4% Transaction Date March 31, 2020 O $667 O $600 $800 O $200 QUESTION 2 Which of the following statements is false? Simple interest is applied to many loans that have a maturity of a year or less O Compound interest is applied to many long-term loans Compound interest gives the lender the ability to earn interest on principle and previously earned interest From a lending perspective, a loan with interest that compounds every year will earn more money than a loan with semi-annual compounding interest