select the correct answer from the drop - down menu. fill in the correct term to complete the statement. is…

select the correct answer from the drop - down menu. fill in the correct term to complete the statement. is the interest amount that the bank pays you on the principal amount. credit interest loan interest simple interest

select the correct answer from the drop - down menu. fill in the correct term to complete the statement. is the interest amount that the bank pays you on the principal amount. credit interest loan interest simple interest

Answer

Brief Explanations:

Simple interest is calculated based on the principal amount only. Credit interest is related to borrowing on credit, and loan interest is for loans. The interest the bank pays on the principal amount is simple interest.

Answer:

Simple interest