You agree to lend a friend $20,000 for a year at an annual interest rate of 45%. At the end of the year your friend must pay you ________ in interest.

A) $133
B) $750
C) $1,900
D) $9,000

Question

You agree to lend a friend $20,000 for a year at an annual interest rate of 45%. At the end of the year your friend must pay you ________ in interest.A)  $133B)  $750C)  $1,900D)  $9,000

Riddhi Gohel · Accepted Answer

Final Answer : D, Explanation :  The interest can be calculated as $20,000 * 45% = $9,000.

You agree to lend a friend $20,000 for a year at an annual interest rate of 45%. At the end of the year your friend must pay you ________ in interest.

A) $133
B) $750
C) $1,900
D) $9,000

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Learning Objectives

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