Which of the following is a true statement regarding interest calculation methods? a. Interest is calculated on either a straight basis or a delayed basis b. Interest is calculated on either a straight basis or an undiscounted basis c. If a borrower receives a loan on a discount basis, the APR will be less than the simple interest d. If a borrower receives a loan on a discount basis, the APR will be more than the simple interest rate Cassady, Inc. borrowed $5,000 for 3 months at an APR of 10%. The amount of interest paid on this loan was: a. $240 b. $120 c. $125 d. $500 Orpah, Inc. borrowed $12,000 for 4 months on a discount basis. The lender used an interest rate of 8% to calculate the discount. The amount of cash Orpah, Inc. actually had available to use from this loan was: a. $11, 040 b. $11, 680 c. $12,000 d. $12, 320