Question

Reese takes out a loan of $43,350 which earns 4% simple interest yearly. How much interest will she owe on the loan after 4 years?

$6,936.00

$1,734

$4,335.00

$50,286.00

Answer 1

$6,936.00

Explanation:

.04 x $43,350 = $1,734

$1,734 x 4 equals the answer: $6,936.00