Question

Harold wants to borrow $1,000 for 3 years. The interest rate is 6%. How much interest will he pay over the course of the loan?

A. $1,800
B. $1,180
C. $180
D. $60

Answer 1

C

Explanation:

Take cost of all 3 years being 3,000 then multiply it by the percent which I put into a decimal to make things easier. 3,000 x 0.06 = 180

Answer 2

The Answer is 180 because 6% of 100 is 60 so just multiply that by 3