Answered

Discover the answers to your questions at Westonci.ca, where experts share their knowledge and insights with you. Explore thousands of questions and answers from knowledgeable experts in various fields on our Q&A platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

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

We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.