The amount of interest owed on a loan of $75,000 after a year at an interest rate of 1 percent is:
A) $7,500.
B) $75,750.
C) $82,500.
D) None of these is true.

Name: The amount of interest owed on a loan of $75,000 after a year at an interest rate of 1 percent is: A) $7,500. B) $75,750. C) $82,500. D) None of these is true.
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Question

Quizplus · Accepted Answer

The interest owed is calculated as $75,000 * 0.01 = $750, which is not listed among the options.

The Amount of Interest Owed on a Loan of $75,000