43.6k views
0 votes
What is the simple intrest on a loan of $3,500 at 3.5% over 5 years?

User Murakami
by
6.6k points

2 Answers

4 votes
612.5 because logic explains that is the answer
User JFreeman
by
6.9k points
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
User Tokland
by
6.5k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.