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slavikrds [6]
3 years ago
13

You get a student loan from the New Mexico educational assistance foundation to pay for your educational expenses this year . F

ind the interest on the loan if you borrowed $5,000 at 5% interest for 1 year.
Mathematics
1 answer:
jok3333 [9.3K]3 years ago
8 0

Answer:

the interest gathered on the loan is $250

Step-by-step explanation:

5% interest on $5,000 for one year would be $250

the total amount wlike be $5250 but the question seems to only ask for the interest

convert 5% to a decimal to multiply to find interest

0.05•5000 gives us the interest for the year

hope this helps <3

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