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

asked May 8, 2021 187k views

2 votes

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1 vote

Answer:

$1500

Explanation:

Loan= $ 5000

Interest rate= 10% PA simple

time= 3 years

Interest=?

------

Interest= $5000*3*0.1= $1500

Hazem Farahat answered May 14, 2021

8.7k points

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