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

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

User Murakami
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2 Answers

4 votes
612.5 because logic explains that is the answer
User JFreeman
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8.5k 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
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