How much interest is charged on a $200 loan?

+1 vote
asked Dec 13, 2017 in Other-Finance by A Hunch (190 points)
How much interest is charged on a $200 loan?

If I get a loan for $200.00 how much interest will I have to pay back on the $200.00 loan?

1 Answer

0 votes
answered Dec 14, 2017 by Shawn (105,070 points)
For a $200.00 loan you'll likely pay back $75.00 in interest. So your pay back amount to pay off the loan of $200.00 would probably be $275.00

But that is just an estimate since it would depend on the interest rates your loan company is charging so the interest and payment amount could Vary.

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