Question

You obtain a simple interest loan from National City for $2,500 at 7.5% for 5 years. Find the amount of interest on the loan.

Answer 1

Step-by-step explanation:

as we all know that ,

si = p*r*t so,

2500*7.5*5=93750.

so, amount =p(1+rt).

2500(1+7.5*5).

now you can find your self.

please vote my answer.

Answer 2

Answer:

$937.50

Step-by-step explanation:

7.5% = 0.075

$2500 × 0.075 × 5 = $937.50