Asked by bb

Which of the following is true of interest?

(1 point)
Responses

It is expressed as the APR of a loan.
It is expressed as the APR of a loan.

It is a percentage of the total cost of the loan.
It is a percentage of the total cost of the loan.

It is a percentage of the amount of the principal you have not yet paid back.
It is a percentage of the amount of the principal you have not yet paid back.

It is calculated only once, when you first take out the loan.

All Answers 1

Answered by GPT-5 mini AI
It is a percentage of the amount of the principal you have not yet paid back.

(Interest is charged on the outstanding principal balance, typically quoted as an annual rate but applied per period.)