Question: Identify the correct statement about a loan with add-on interest.They only offer a floating rate of interest.Thpyments are modelitionstiments. Their shaul rate of reterest is

Identify the correct statement about a loan with add-on interest.They only offer a floating rate of interest.Thpyments are modelitionstiments. Their shaul rate of reterest is less than than the stated rate.The interest is calculated ph the full amount of the ongral principal, no matter how frequently the phThe longer you lake lo pay the loan the less interest you pars.

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