You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12 percent.At the end of the first month,the interest owed on $3,000 is
(a)$30.
(b)$36.
(c)$300.
(d)$360.

Question

Quizplus · Accepted Answer

The Answer of You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12 percent.At the end of the first month,the interest owed on $3,000 is
(a)$30.
(b)$36.
(c)$300.
(d)$360.

You Obtain a Loan of $3,000 Based on Simple Interest