Asked by sam

ted takes out a student loan to pay for his college tuition this year. Find the interest on the loan if he borrowed $2,500 at an annual interest rate of 6% for 15 years. Could someone help step by step, I cant seem to get it. Thank you
Answered by Ms. Sue
I = PRT

I = 2,500 * 0.06 * 15

I = ?

Answered by sam
I get 2,250. Thank you Ms. Sue for making it easy to understand.
Answered by Ms. Sue
You're welcome, Sam.
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