Under the add-on interest method,: (Select the best answer below.) O A. the total loan amount is multipled by the interest rate, then divided by the number of payments to determine the amount of the monthly payment. B. the interest is calculated on the loan amount, the loan amount and the interest are added together, and the total is divided by the number of payments to determine the amount of the monthly payment. O C. the interest is calculated on the loan amount, the loan amount and the interest are subtracted from each other, and the total is divided by the number of payments to determine the amount of the monthly payment. D. the interest is calculated on the loan amount, the loan amount and the interest are subtracted from each other, and the total is multiplied by the number of payments to determine the amount of the monthly payment