3 July, 10:07

Which of the following statements about interest is true?

a. Interest is expressed as a percentage of the amount you are borrowing.

b. Interest is a one-time fee that you pay for lending money.

c. Because interest rates tend to be small numbers, they typically don't have much effect on the price of the goods you're purchasing.

d. Interest is a penalty that you pay when you don't pay your bills on time.

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