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marin [14]
3 years ago
9

a college loan of 15000 has a 3% annual simple interest rate what is the interest the student will pay after 5 years

Mathematics
1 answer:
inessss [21]3 years ago
7 0

Answer:

Interest = $ 90000

Step-by-step explanation:

Given, Principal= $15000

Rate = 3%

Time = 5 years

Interest = P × R × T/100

Therefore, Interest = 15000 × 3 × 5/100

(dividing 100 by 5 to get 20)

= 15000 × 3 × 20

= 90000

if it helps don't forget to like and mark me down

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