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Interest is calculated on either a straight basis or a

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Interest is calculated on either a straight basis or a delayed basis. Interest is calculated on either a straight basis or an undiscounted basis. If a borrower receives a loan on a discount basis, the APR will be less than the simple interest. If a borrower receives a loan on a discount basis, the APR will be more than the simple interest rate.

Reference no: EM13569998

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