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Dakota is using the online calculator to determine how much interest she will pay on a $20,000 loan at 5% annual interest if paid off in 10 years. Which show the correct values Dakota should input to the online calculator to find the solution?

A. Balance: $20,000
APR: 5%
Time to repay (months): 10

B. Balance: $20,000
APR: 5%
Time to repay (months): 120

C. Balance: $20,000
APR: 10%
Time to repay (months): 5

D. Balance: 20,000
APR: 10%
Time to repay (months): 60

1 Answer

1 vote
B. Balance: $20,000
APR: 5%
Time to repay (months): 120
User Mtfurlan
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