1.24. If an investor borrows $100 and pays back $100 after a year to settle his loan, it implies that the rate of interest is ________. A) 0 percent B) 1 percent C) 10 percent D) 100 percent

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Faithkd6799 Faithkd6799

25-03-2022
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1.24. If an investor borrows $100 and pays back $100 after a year to settle his loan, it implies that the rate of interest is ________. A) 0 percent B) 1 percent C) 10 percent D) 100 percent

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jayilych4real jayilych4real · Answer 1 · 2022-04-01T12:52:19+02:00

,If an investor borrows $100 and pays back $100 after a year to settle his loan, it implies that the rate of interest is 0%

What is Interest Rate?

This refers to the added amount which is to be repaid with respect to a loan after a given time period.

With this in mind, we can see that because after a period of 1 year, the principal amount which is $100 is paid back without any additional charge, then the rate of interest on the loan is 0%.

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