Question 23 2.5 pts payment loan for $1,000 at a The annual percentage rate (APR) on as simple interest rate of 12% is O 10% O 12%. 15% 18%. Question 24 2.5 pts Sometimes it may be better to use savings rather than borrow to make a purchase. This would be recommended when the borrower has adequate savings. interest rates are rising. ing interest rates are falling. / / the cost of borrowing is greater than the interest earned on the savings. NISU interest earned on savings is greater than the interest paid on the loan