Question
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?
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?
Answers
Damon
5 * .05 * 5,000
MsPi_3.14159265
Interest = (Principal)x(Rate)x(time) of the loan : )