Select the best definition for simple interest rates. Group of answer choices A percentage of the principal borrowed Interest th

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Select the best definition for simple interest rates. Group of answer choices A percentage of the principal borrowed Interest th

at is calculate as a percentage of the principal A percentage of the principal saved Interest that is calculated as a percentage of the principal and previous accumulated interest that was added to the principal

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1 answer:

navik [9.2K] · Answer 1 · 2022-07-01T09:14:03+03:00

Answer:

Select the best definition for simple interest rates

A percentage of the principal borrowed Interest that is calculate as a percentage of the principal

Explanation:

Simple interest is an 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.