Which one of the following is Not a common method of borrowing funds in the short-term when considering the rate of interest to be paid:
A)percentage-of-sales method
B)simple
C)add-on
D)discount

Question

Quizplus · Accepted Answer

Percentage-of-sales method is not a means of calculating rate of interest paid on short-term obligations.The other three methods are common methods of determining actual interest paid on short-term loans.

Which One of the Following Is Not a Common Method