A restaurant borrowed $15,000 to remodel. The loan is for 7 years and the yearly interest rate is 4.25%. How much interest will the restaurant pay?

asked Oct 8, 2022 44.9k views

6 votes

A restaurant borrowed

$15,000 to remodel.
The loan is for 7 years and
the yearly interest rate is
4.25%. How much interest
will the restaurant pay?

3.3k points

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9 votes

Answer:

$4462.50

Explanation:

simple interest =principal × rate × time\100

BobDroid answered Oct 13, 2022

3.2k points

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