What is the amount of interest owed on a loan of $2,000 after a year at an interest rate of 10 percent?
A)$2,100
B)$2,200
C)$200
D)$100

Name: What is the amount of interest owed on a loan of $2,000 after a year at an interest rate of 10 percent? A)$2,100 B)$2,200 C)$200 D)$100
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Question

Quizplus · Accepted Answer

The interest owed on a loan of $2,000 at a 10 percent annual interest rate is calculated as $2,000 * 0.10 = $200.

What Is the Amount of Interest Owed on a Loan