Posted by **John** on Wednesday, September 19, 2012 at 5:21pm.

what is the simple interest on a $14,500 loan at 9% interest for 5 years?

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**Ms. Sue**, Wednesday, September 19, 2012 at 5:22pm
I = PRT

I = 14,500 * 0.09 * 5

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**greg**, Wednesday, September 19, 2012 at 5:36pm
You do 14500 times .09 then you add that to 14500 to get year 1 then repeat that till you get 22309.51.or something close to that.

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**Ms. Sue**, Wednesday, September 19, 2012 at 5:37pm
Greg -- John's problem just asks for simple interest -- not total owed.

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