Answers 2027 Ignite Financial Literacy-Personal Finance - EL3403 Credit and Loans — Unit testQuestion 5

5

QuizMultiple Choice

Credit and Loans — Unit test

Question 5 of 21 • 2027 Ignite Financial Literacy-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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