Which of the following is true of interest?
(1 point)
Responses
It is a percentage of the total cost of the loan.
It is a percentage of the total cost of the loan.
It is expressed as the APR of a loan.
It is expressed as the APR of a loan.
It is calculated only once, when you first take out the loan.
It is calculated only once, when you first take out the loan.
It is a percentage of the amount of the principal you have not yet paid back.
It is a percentage of the amount of the principal you have not yet paid back.