Question

To find the amount of interest Jesse will pay to borrow money, you can use the formula I = PRT. I = interest; P = principal; R = Rate; and T=time. How much interest will Jesse pay if he borrows $5,000 for 5 years with an interest rate of 6%? A. $3,000.00 B. $15,000.00 C. $150.00 D. $1,500.00

Answer 1

Answer:

D, 1500

Step-by-step explanation:

You plug it in by doing equation I= PRT

This means I=5000(5)(0.06)

I=25000(0.06)

I=1500