How much simple interest will be due on a loan of $6000 at a 3.5% annual interest rate for one year?

A.
$210

B.
$350

C.
$2100

D.
$6210 I chose D

Question

How much simple interest will be due on a loan of $6000 at a 3.5% annual interest rate for one year?
 
 A.
$210
 
 B.
$350
 
 C.
$2100
 
 D.
$6210  I chose D

rainbow_rocks03 · Answer

is that correct?

jdoe0001 · Answer

well... you're not supposed to "choose"

is not really a produce pick per se

rainbow_rocks03 · Answer

I want people to check my answers

rainbow_rocks03 · Answer

to see if im correct

jdoe0001 · Answer

so... what's the decimal value for the rate you used?    notice, is 3.5%

jdoe0001 · Answer

$\large {
\qquad \textit{Simple Interest Earned}\
I = Prt\qquad 
\begin{cases}
I=\textit{interest earned}\
P=\textit{original amount deposited}\to& \$6000\
r=rate\to 3.5\%\to \frac{3.5}{100}\to &0.0035\
t=years\to &1
\end{cases}
}$

rainbow_rocks03 · Answer

A i meant is that correct?

rainbow_rocks03 · Answer

A or C?

jdoe0001 · Answer

the idea behind the exercise is not to "pick" a letter
is to understand it

so, notice above, use the values, get the interest