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Sain has a student loan for $22,990. This loan has a simple interest rate of 5%. What is the amount of interest Sain will be charged on his student loan at the end of 3 years?
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Sain has a student loan for $22,990. This loan has a simple interest rate of 5%. What is the amount of interest Sain will be charged on his student loan at the end of 3 years?

User Bhavesh Daswani
by
8.5k points

2 Answers

4 votes
The answer is 3448.5
User Guno
by
8.9k points
2 votes

Answer:

3448.5

Explanation:

I=PRT

I=22990×0.05×3

=$3448.5

User Dinotom
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