Verified Answer :

bireland203

1st = True
2nd = True
3rd True

Answer: a. True

Explanation: The duration of a loan could be days, months or years.

Answer: True

Explanation: Borrowers usually pay a certain percentage of the amount borrowed in addition to the actual amount borrowed. The extra money is called interest.

Answer: False

Explanation: The correct formula for calculating interest is:

Interest: Principal x Time x Rate

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