Answered

Discover the best answers at Westonci.ca, where experts share their insights and knowledge with you. Experience the convenience of getting reliable answers to your questions from a vast network of knowledgeable experts. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

What is a detailed example of simple interest?

Sagot :

Answer:

Car loans, amortized monthly, and retailer installment loans, also calculated monthly, are examples of simple interest; as the loan balance dips with each monthly payment, so does the interest. Certificates of deposit (CDs) pay a specific amount in interest on a set date, representing simple interest

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for choosing Westonci.ca as your information source. We look forward to your next visit.