Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Connect with a community of experts ready to provide precise solutions to your questions quickly and accurately. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

How is simple interest calculated?
OA. It is calculated on the principal amount of the loan.
OB. It is calculated on the
collateral on the loan.
OC. It is calculated on the annual percentage yield.
OD. It is calculated on the compound interest of the loan.

Sagot :

anthougo

Simple interest is calculated in this way: A. It is calculated on the principal amount of the loan.

What is simple interest?

Simple interest is the type of interest that does not compound and is calculated on the principal portion of a loan.

The formula for computing simple interest is Principal x APR x Number of years.

For example, the simple interest of $100,000 at 2% APR for 2 years is $4,000.

Thus, simple interest is calculated in this way: A. It is calculated on the principal amount of the loan.

Learn more about simple interests at https://brainly.com/question/25793394

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.