Which of the following is TRUE about simple interest? Select one: O A. We never use simple interest rates in financial calculations. B. If we have an effective annual rate (EAR) of return for 3 years, we can just divide the EAR by 3 to get the equivalent annual simple rate of return. O C. Simple interest does not allow for any interest-on-interest. O D. Both B and C are correct. Jill borrows $300,000 for 10 years at a fixed interest rate of i% p.a (EAR). If the loan is repaid in 10 equal year-end payments over the 10 years, the amount of the loan outstanding at the end of the 5th year will be: Select one: O a. Less than $150,000 O b. Greater than $150,000 O cEqual to $150,000