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Which type of interest is charged on both the original amount borrowed and the interest that has already accumulated?A.Simple interestB.Corporate interestC.Compound interestD.Bankruptcy interestSUBMITarrow_backPREVIOUS

Question

Which type of interest is charged on both the original amount borrowed and the interest that has already accumulated?A.Simple interestB.Corporate interestC.Compound interestD.Bankruptcy interestSUBMITarrow_backPREVIOUS

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Solution

The type of interest that is charged on both the original amount borrowed and the interest that has already accumulated is C. Compound interest.

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