What is simple$$ interest? What information is needed to compute$$ it$?$ What information is contained in a loan repayment$$ schedule?

Part $2$

Simple interest$$ is:$($Select the best answer$$ below.$)$

A$.$

the sum of the principal paid on the loan divided by the loan amount.

B$.$

computed as a percentage of the existing loan amount.

C$.$

the sum of the interest paid on the loan.

D$.$

the sum of the interest paid on the loan divided by the loan amount.