Multiple Choice
If the add-on method is used to calculate a finance charge of $100.80 on a $1,800 loan, the amount to be:
A) repaid is $1,900.80.
B) paid to the borrower is $1,699.20.
C) repaid is $1,699.20.
D) repaid to the borrower is $1,800.
E) paid to the borrower is $100.80.
Correct Answer:
Verified
Correct Answer:
Verified
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