How much simple interest will be due on a loan of $9000 at a 4.25% annual interest rate for one year? A. $42.50 B. $382.50 C. $3825 D. $9382.50

asked Nov 3, 2019 35.9k views

3 votes

How much simple interest will be due on a loan of $9000 at a 4.25% annual interest rate for one year?

A.
$42.50

B.
$382.50

C.
$3825

D.
$9382.50

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3 votes

B; Use the equation I= prt for simple interest.

I- Interest
P- Principle (amount of money)
R- Rate (Percentage)
T- Time

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