sofiandreagarcia sofiandreagarcia

01-04-2022
Mathematics

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Olivia borrowed $5,000 for 5 years at 5% simple interest.

Respuesta :

suphultamang suphultamang

01-04-2022

Answer:

The answer is $1250

Step-by-step explanation:

Solution,

Principle (P) = $ 5,000

Time (T) = 5 years

Rate(R) = 5 %

Simple Interest (I) = ?

Now,

We have,

Simple Interest (I) = P×T×R/ 100

= 5,000×5×5/100

= $1250

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