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Q: You wish to borrow $2500 at an interest rate of 3.5% for 2 years. How much will you pay in interest for the loan? A)$2675 B)$175 C)$26.75 D)$17.50
A: I = $2500 * .035 * 2 = $ 175.00. Answer is $175.00
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Original conversation
User: You wish to borrow $2500 at an interest rate of 3.5% for 2 years. How much will you pay in interest for the loan? A)$2675 B)$175 C)$26.75 D)$17.50

Weegy: I = $2500 * .035 * 2 = $ 175.00. Answer is $175.00
jameshand|Points 1549|

User: Which interest method is most widely used by the Federal Reserve? A)Simple B)Compound C)Ordinary D)Exact

Weegy: The Exact interest is the most widely used method by the Federal Reserve
AngelInDisguise|Points 5104|

User: A business owner borrows $30,000 at an interest rate of 10.5%. If the business owner borrows using simple interest for 19 months, what is the maturity value of the loan? (NOTE: Use ordinary interest). A)$4,462.50 B)$30,000 C)$35,000 D)$34,462.50

Weegy: $35,000 is the maturity value of the loan for 19 months
migzptz|Points 5500|

User: An individual borrowed $5,000 for 80 days and paid $100 in interest. What was the rate of the loan? (NOTE: Use ordinary interest). A)9% B)22% C)18% D)90%

Weegy: 9% is the answer. the rate of the loan is 9%
migzptz|Points 5500|

User: Find the time for a loan of $3500 at an interest rate of 9.7% with the interest of $341. (Round to the nearest year). A)1 year B)2 years C)3 years D)4 years

Weegy: 1 year. 1 year is the time for a loan of $3500 at an interest rate of 9.7% with the interest of $341.
migzptz|Points 5500|

User: If interest paid on an investment is $25.21 for 50 days at an interest rate of 8.25%, what was the original amount invested if the exact interest method is used? (Round to the nearest cent). A)$29.00 B)$2200.15 C)$2230.70 D)$2521.25

Weegy: $2230.70 is the answer. $2230.70 was the original amount invested if the exact interest method is used
migzptz|Points 5500|

User: The U.S. Rule that allows borrowers to pay of a loan early uses which interest method? A)Compound B)Exact C)Ordinary D)Partial

Weegy: the us rule that allows a borrower to pay off a loan early uses ordinary interest method
katherinerose|Points 0|

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Asked 3/24/2012 1:20:36 PM
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