emma borrowed $9,000. the loan has a simple interest rate of 15%. if she takes 5 years to pay it back, how…
emma borrowed $9,000. the loan has a simple interest rate of 15%. if she takes 5 years to pay it back, how much interest will she pay? hint: i = prt
Answer
Explanation:
Step1: Identify values
$P = 9000$, $R=0.15$, $T = 5$
Step2: Apply simple - interest formula
$I=PRT=9000\times0.15\times5$ $I = 9000\times0.75$ $I = 6750$
Answer:
$6750$