Question: Eli Nelson is borrowing $ 1 0 , 0 0 0 for five years at 7 percent. Payments, which are made on a monthly basis,

Eli Nelson is borrowing $10,000 for five years at 7 percent. Payments, which are made on a monthly basis, are determined using the add-on method. Eli's monthly payments are much under the add-on method than they would be under the simple interest Method true or false

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