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Which of the following statements about interest is true?

a. Interest is expressed as a percentage of the amount you are borrowing.
b. Interest is a one-time fee that you pay for lending money.
c. Because interest rates tend to be small numbers, they typically don't have much effect on the price of the goods you're purchasing.
d. Interest is a penalty that you pay when you don't pay your bills on time.

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toledomike102
the answer is A ...........................

The following statement about interest is correct: Interest is calculated as a percentage of the amount borrowed.

What Does Interest Rate Mean?

A lender charges a borrower an interest rate that is a percentage of the principal (the amount borrowed). The interest rate on a loan is referred to as the annual percentage rate (APR) (APR).

Money acquired through a savings account or certificate of deposit at a bank or credit union can also yield interest (CD). The annual percentage yield is the amount of money earned on these deposit accounts (APY).

For more information about Interest rates refer to the link:

https://brainly.com/question/13324776

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