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Donna secured a $5,000 loan from the bank to be paid in 3 years at a 5% rate. How much interest did Donna pay?

Donna secured a $5,000 loan from the bank to be paid in 3 years at a 5% rate. How much interest did Donna pay?
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1 vote
Donna secured a $5,000 loan from the bank to be paid in 3 years at a 5% rate. How much interest did Donna pay?

asked
User Keith Hughitt
by
8.5k points

1 Answer

3 votes
I=prt
I=5,000×0.05×3
I=750
answered
User Jeff Davenport
by
8.5k points
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