Question: Choose the correct letter. What does the difference 012 represent? a. None of the other choices are correct b. The interest paid in the first

Choose the correct letter.

What does the difference 012 represent?

a. None of the other choices are correct

b. The interest paid in the first year of the loan.

c.The principal repaid in the first 12 years of the loan.

d. The principal repaid in the first year of the loan.

What does the product 1212 represent?

a. The interest paid in the second year.

b. The interest component of the 13 repayment.

c. Nothing. This expression is complete nonsense.

d. The interest component of the 1212th repayment.

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