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

Answer 1

Simple Interest Formulas and Calculations: Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods.
Simple Interest Calculator A = P(1 + rt) - Calculator Soup
www.calculatorsoup.com/.../simple-interest-plus-principal-c...Calculator Soup

Answer 2

I am not sure. It MIGHT be D.

Answer 3

Thank you both!

Answer 4

You're welcome! :D

Answer 5

You're welcome.