Question

Please help? will reward medal!


Calculate the amount of interest you'll pay on the following loan. Borrowed: $3500 APR: 21% Term: 12 months
A. $37
B. $350
C. $575
D. $735

Answer 1

@austinL

Answer 2

is it simple or compounded?

Answer 3

^^

Answer 4

im thinking its a compounded monthly .... but i cant be certain

Answer 5

hint:

Interest = Principal * Rate * Time

Answer 6

hmmm, im thinking simple

Answer 7

yeah, the options will ahve to be simple ... 810 isnt an option is it :/

Answer 8

no:/ i tried tmultiplying them all, and got a huge number lol

Answer 9

@jim_thompson5910

Answer 10

ues .21, not 21 ... and 1 instead of 12 :)

Answer 11

Principal: 3500

Rate: 21/100 = 0.21

Time: 12 months = 1 year

Answer 12

2.52 is what i got

Answer 13

..and change the batteries in your calculator maybe?

Answer 14

okay is it 350?

Answer 15

3500(.21)(1)

Answer 16

or 35(21)

Answer 17

735! lol

Answer 18

:) id go with that one

Answer 19

thanks everyone fore the help!