Question: When the simple interest method is used to determine finance charges, the interest is calculated based on the: actual balance of the loan. average outstanding

When the simple interest method is used to determine finance charges, the interest is calculated based on the:
actual balance of the loan.
average outstanding balance.
future value of the installments.
present value of all finance charges.
future value of all finance charges.
When the simple interest method is used to determine finance charges,

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