MBF3C - Algonquin Achievement Centre

39. (p. 166) The add-on interest calculation uses the formula: Interest = Principal ( Rate of interest (Time FALSE. The formula is correct for Simple Interest. Bloom's: Knowledge Difficulty: Medium Learning Objective: 4 Topic: Cost of credit 40. (p. 166) The amount of interest paid is independent of the length of the loan. FALSE ................
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