[Solved] After Taking Out a One Year Loan with an Annual

Question 47
Multiple Choice

After taking out a one year loan with an annual interest rate of 5 percent, Tommy pays $2,100 back to the bank. The principal of the loan must be ___________ and the interest payment must be ___________.

A) $2,000; $100
B) $2,100; $100
C) $100; $2,100
D) $100; $2,000

10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes.

Business

Explore our library and get Economics Homework Help with various study sets and a huge amount of quizzes and questions

3.5K

Study sets

66.5K

Quizzes

5.9M

Questions

Upload material to get free access

Upload Now Upload Now
Upload Now

Invite a friend and get free access

Upload NowInvite a friend
Invite a friend

Subscribe and get an instant access

See our plansSee our plans
See our plans