Julie0402 Julie0402

23-03-2017
Mathematics

Answered

Adam takes a loan of $8,250 at a 7% simple rate for 5 years.

AHow much interest will be paid after 3 years?
BHow much interest will be paid in total for the loan?

PLZ HELP, i will mark it the brainliest if its the correct answer and if you can, please explain how you got the answer.

Thank you!

Verified Answer :

LettucetheGreat LettucetheGreat

23-03-2017

I= prt
I= (8,250)(.07)(5)
I= (8,250) (.35)
I= 2887.5 for 5 years

Total= 8,250 + 2887.5
Total= 11137.5

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