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Joana wants to buy a car. Her parents loan her $5,000 for 5 years at 5% simple interest. How much will Joana pay in interest?

Joana wants to buy a car. Her parents loan her $5,000 for 5 years at 5% simple interest. How much will Joana pay in interest?
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2 votes
Joana wants to buy a car. Her parents loan her $5,000 for 5 years at 5% simple interest. How much will Joana pay in interest?

User GBD
by
8.0k points

1 Answer

4 votes

Answer:

1250

Explanation:

5% of $5000 is 250

250X5= 1250

User Sean Chou
by
8.6k points
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