In general, the effective rate of interest on a discount loan
A. is lower than that on standard loan
B. is higher than that on a standard loan
C. is identical to that on a standard loan
D. none of the above
Answer:B
In general, the effective rate of interest on a discount loan
A. is lower than that on standard loan B. is higher than that on a standard loan C. is identical to that on a standard loan D. none of the above