What is the simple intrest on a loan of $3,500 at 3.5% over 5 years?

asked Mar 27, 2023 43.6k views

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4 votes

612.5 because logic explains that is the answer

JFreeman answered Mar 29, 2023

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5 votes

612.5 bc interest per year is 122.5(3,500x.035) and then you multiply by the x amount of years for the loan

Tokland answered Apr 2, 2023

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