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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
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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