Identify the statement as true or false.

Unearned interest is the amount of interest not paid by the borrower when a loan is retired early.

Choose the correct answer below.

A$.$ The statement is false; unearned interest is the amount paid by the borrower.

B$.$ The statement is true; unearned interest is the amount not paid by the borrower.

C$.$ The statement is true; unearned interest is the amount paid by the borrower.

D$.$ The statement is false; unearned interest is the amount not paid by the borrower.