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

Question

3 years ago

15

t?
Principal - $10,000.00

Rate - 5%

Time - 5 years

Hint: Use the simple interest formula to calculate the interest amount.

1 answer:

nikdorinn [45] · Answer 1 · 2022-01-16T06:52:01+03:00

4 0

Answer:

Step-by-step explanation:

I= P*r*T

Interest equals 10,000 times 5% times 5 years

$2500 is the total interest.