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Question 8 Your answer is incorrect.Try again. Which of the following statements concerning the add-on interest method is true? It usually results in a higher
Question 8
Your answer is incorrect.Try again.
Which of the following statements concerning the add-on interest method is true?
It usually results in a higher APR than the discount interest method.
The lender subtracts the interest due from the principal before the borrower receives the loan proceeds.
It results in a lower APR than the simple interest method.
Interest is added to the amount borrowed before the payments are calculated.
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