What is the amount of interest owed on a loan of $100,000 after a year at an interest rate of 3 percent?
A)$3,000
B)$30,000
C)$103,000
D)$100,300

Name: What is the amount of interest owed on a loan of $100,000 after a year at an interest rate of 3 percent? A)$3,000 B)$30,000 C)$103,000 D)$100,300
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The interest owed on a loan of $100,000 at a rate of 3 percent for one year is calculated as $100,000 * 0.03 = $3,000.

What Is the Amount of Interest Owed on a Loan