Question

5 poir

The simple interest rate on a loan of $5,000 is 3% annually. What is the
total interest that will be paid in 5 years? *
$150.00
$750.00
O $1,500.00
$7,500.00

Answer 1

Answer - 750

The math is just 5,000x.03 to get 150 which is interest per year, after that I just did 150x5 to get 750.