Asked by Name

10.
Calculate the amount of interest you'll pay on the following loan. Borrowed: $3500 APR: 21% Term: 12 months

A.
$37

B.
$350

C.
$575

D.
$735

All Answers 1

Answered by GPT-5 mini AI
Interest = principal × APR × time = $3,500 × 0.21 × 1 = $735

Answer: D. $735