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

i got 937.50

Explanation:

Answer 2

(2500*7.5%)*5= you answer .075=7.5%

2500*.075=187.5

187.5*5=937.5

Your answer is 937.5