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OleMash [197]
3 years ago
15

Calculate the loan for $10,000, at an annual percentage rate of 5%, for a term of 5 years. What is the amount of accrued interes

t?
Principal - $10,000.00

Rate - 5%

Time - 5 years

Hint: Use the simple interest formula to calculate the interest amount.
Mathematics
1 answer:
nikdorinn [45]3 years ago
4 0

Answer:

Step-by-step explanation:

<em>I= </em><em>P*r*T</em>

<em>Interest equals 10,000 times 5% times 5 years</em>

<em>$2500  is the total interest.</em>

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