Find the simple interest rate of15,000.00 at the rate of 20% per annum for 5 years
The simple interest formula is:
Simple Interest = Principal x Rate x Time
Plugging in the values:
Principal = $15,000
Rate = 20% per annum (0.20)
Time = 5 years
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Simple Interest = $15,000 x 0.20 x 5
Therefore, the simple interest on $15,000 at a rate of 20% per annum for 5 years is $15,000.