Answers Personal Finance - EL3403 Credit and LoansQuestion 3

3

QuizMultiple Choice

Credit and Loans

Question 3 • Personal Finance - EL3403

The simple interest on a loan of $200 at 10 percent interest per year is

Answer

A

$10 per year until the loan is paid off.

B

$15 per year until the loan is paid off.

C

$20 per year until the loan is paid off.

D

$25 per year until the loan is paid off.

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