Which of the following methods calculates interest on the full amount of the original principal?
A) Declining balance method
B) Add-on interest method
C) Simple interest method
D) Adjusted balance method
E) Average daily balance method

Question

Quizplus · Accepted Answer

The add-on interest method calculates interest on the full amount of the original principal for the entire loan term, regardless of any payments made.

Which of the Following Methods Calculates Interest on the Full