Question

aaron borrowed 15 000 that has a simple interest rate of 3.75% .he plans to pay it off in 4 years . how much will he have to pay in interest ........if you see this can you help right away plzzz​

Answer 1

$2,250 in interest

Explanation:

The simple interest formula applicable here is

i = prt, where p is the principal (initial value), r is the interest rate as a decimal fraction, and t is the number of years elapsed.

Here we have i = $15,000(0.0375)(4) = $2,250 in interest