What is the interest on a $10,000 loan?

Answer by  caffeine (41)

The interest will depend on the terms of the loan agreement. You must know the interest rate that the creditor has stipulated to get the interest. If the loan has a 12% interest rate, then you will pay an interest of $1,200. The interest is computed by multiplying the principal amount of $10,000 by the interest rate.

Answer by  RandomGuy (138)

It depends where the loan originated from. You would have to ask the bank what the interest rate would be and they could tell you the percentage.