Question

4. when interest is calculated on the original
principal throughout the load period
it is called
___________​

Answer 1

SIMPLE INTEREST If interest is calculated uniformly on the original principal throughout the loan period it is called simple interest.

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Answer 2

Simple interest is a quick and easy method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.

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