Personal Finance, 4e (Madura)
4) Which of the following methods of calculating interest is the most expensive? A) Annual percentage rate or APR. B) Simple interest. C) Add-on interest. D) Sum of the digits. Answer: C. Diff: 2 Page Ref: 232. Question Status: Existing/Old. Short Answer. 1) _____ is a method of computing interest based on the existing principal amount of the loan. ................
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