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You plan to borrow $625 for 2 years at 10% simple interest.
How much interest will you pay on the loan?
A. $6.25
B. $12.50
C. $62.50
D. $125.00

Respuesta :

625 x 2 x 0.1 = $125

answer is D. $125.00
irspow
Simple interest is:

I=Prt, I=interest, P=principal, r=rate, t=time

I=625(0.1)2

I=$125.00

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