If the interest rate is stated per year, as in 15% per annum, then use years for your T
If the interest rate is stated as a rate per month, then use months for your T.
I would think that the 15% is an annual rate , so use 2 , not 24.
Formula. I = P x R x T. Is time is for 2 years do
You $10,000 x .15 x 2 (or 24 months)
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