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Simple Interest - Item 1181 Question 2 of 7 You borrow $1,000 on a simple interest loan. You pay an annual rate of 3.5%. You will take 3 years to pay back the loan. How much interest will you pay? $1,000
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Simple Interest - Item 1181

Question 2 of 7
You borrow $1,000 on a simple interest loan. You pay an annual rate of 3.5%. You will
take 3 years to pay back the loan. How much interest will you pay?
$1,000
interest
0%
3.5%
100%
CHECK

User Sanjay Madnani
by
6.8k points

1 Answer

1 vote

Answer:

105$

Explanation:

(1000×0.035)×3

•••

User Damien MIRAS
by
6.5k points
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