When the lender provides the borrower with an amount of funds that must be repaid to the lender at the maturity date, along with an additional payment for the interest, it is called a_______________.

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abbyartistic7360 abbyartistic7360

03-02-2020
Business

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When the lender provides the borrower with an amount of funds that must be repaid to the lender at the maturity date, along with an additional payment for the interest, it is called a_______________.

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eyukwe eyukwe · Answer 1 · 2020-02-05T21:42:24+01:00

Answer:

This is called a simple interest rate. When the loan amount must be repaid to the lender at the maturity date, along with an additional payment for the interest.

To calculate simple interest rate, the interest rate payment is divided by the loan amount.

Explanation:

This is called a simple interest rate. When the loan amount must be repaid to the lender at the maturity date, along with an additional payment for the interest.

To calculate simple interest rate, the interest rate payment is divided by the loan amount.