A borrower who wants to minimize interest should try to: Select a loan with a low simple interest rate. Because low simple rate provides the lowest rate as compared to other interest.
What is interest rate?
Interest rate is the amount charge by the lender on the money which is taken by the borrower . Annual percentage rate is used to calculate the total amount.
In annual percentage rate add fees and discount points, on with the interest rate.
Thus, option A is correct.
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