What is the total amount owed on a loan of $100,000 after a year at 5 percent interest?
A)$5,000
B)$95,000
C)$105,000
D)$500,000

Name: What is the total amount owed on a loan of $100,000 after a year at 5 percent interest? A)$5,000 B)$95,000 C)$105,000 D)$500,000
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Quizplus · Accepted Answer

The interest for one year on a $100,000 loan at 5 percent is $5,000, so the total amount owed after a year is the original loan amount plus the interest, which is $100,000 + $5,000 = $105,000.

What Is the Total Amount Owed on a Loan of $100,000