Question

Mary took out a student loan for $15,000 at 4 simple interest. how much interest will she pay after 10 years

Answer 1

Answer:

Mary will pay interest of $6000 after 10 years

Step-by-step explanation:

Principal amount P = $15000

Rate of interest R = 4%

Time period T = 10 years

$SI=\frac{PTR}{100} \\SI =\frac{15000 \times 10 \times 4}{100} \\SI=6000$

Mary will pay interest of $6000 after 10 years