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What is the interest for an $8,720 loan at 12.5 percent for 15 years?

What is the interest for an $8,720 loan at 12.5 percent for 15 years?
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What is the interest for an $8,720 loan at 12.5 percent for 15 years?

User Monkeyhouse
by
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1 Answer

4 votes
The formula is
I=prt
I interest?
P loan 8720
R interest rate 0.125
T time 15 years
I=8,720×0.125×15
I=16,350

Hope it helps!
User Leonardo Herrera
by
8.8k points
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