Asked by Lisa

Need some help with setting it up please. Thank you.

Joanna wants to buy a car. Her parents loan her 5,000 for 5 years at 5% simple interest. How much will Joanna pay in interest?
Answered by Damon
5 * .05 * 5,000
Answered by MsPi_3.14159265
Interest = (Principal)x(Rate)x(time) of the loan : )
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