Which of the following methods of calculating interest results in the lowest interest charges?
Select one:
a.Simple interest
b.Effective interest
c.Add-on interest
d.Annual percentage rate or APR
On a fixed-rate mortgage, the monthly
Select one:
a.payment remains constant and the interest rate stays the same.
b.payment remains constant until the balloon payment.
c.payment remains constant and the interest rate fluctuates.
d.a reduction in interest rates shortens the amortization period.