Step-by-step explanation:
To answer this will we use our equation of I = prt
in this case the I in the equation, or meaning the interest will remain as a variable
our p in the equation or principal, will be 1500
next our r, or rate in the following equation will be 4%. since it is a percent, we will have to convert it into a decimal, 0.04
finally our t, or time. in this case it will be 5 years
here is our equation
I = 1,500 x 0.04 x 5
then we solve, given us 300
300 = 1,500 x 0.04 × 5
I (Interest) = 300
Total cost = 1,800
