How much interest is earned on a $5,000 loan at 10% interest for 3 years? 1. $1,500 2. $125 3. $150,000 4. $15,000

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Thiago Melo asked Jan 15, 2022

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45 votes

How much interest is earned on a $5,000 loan at 10% interest for 3 years?

1. $1,500
2. $125
3. $150,000
4. $15,000

Mathematics
middle-school

Thiago Melo asked Jan 15, 2022

by Thiago Melo

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15 votes

Answer:

Total interest paid:$4,045.51

Total payments:$24,045.51

Explanation:

Dendini answered Jan 16, 2022

by Dendini

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27 votes

Answer:

$1500

Explanation:

i=PRT

i=3000×0.1×5

Answer= 1500

Soenhay answered Jan 21, 2022

by Soenhay

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