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

  • math -

    I = PRT

    I = 14,500 * 0.09 * 5

  • math -

    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.

  • math -

    Greg -- John's problem just asks for simple interest -- not total owed.

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