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math

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please help how do you figure out the simple interest on a $14,500 loan at 9% interest for 5 years ?

  • math -

    1.45 x 14,500 = ?
    Thie assumes no payment and no compounding of interest until the end of the 5 year period.

  • math -

    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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