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A college loan is $30,000.
There is an interest rate of 4% on the loan.
What is the interest owed?

A. $1.200
B. $120,000
C. $120
D. $12,000

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Sagot :

[tex]\begin{array}{|c|ll} \cline{1-1} \textit{a\% of b}\\ \cline{1-1} \\ \left( \cfrac{a}{100} \right)\cdot b \\\\ \cline{1-1} \end{array}~\hspace{5em}\stackrel{\textit{4\% of 30000}}{\left( \cfrac{4}{100} \right)30000}\implies 1200[/tex]

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