Posted by Anonymous on Monday, November 12, 2007 at 5:55pm.
1.45 x 14,500 = ?
Thie assumes no payment and no compounding of interest until the end of the 5 year period.
the simple interest on a $14,500 loan at 9% interest for 5 years will be:
$14,500*(9/100)*5=$14,500*(0.09)*5=1305*5=6525...interest only..:-)
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