Mary took out a student loan for $15,000 at 4% simple interest. how much interest will she pay after 10 years

write in simple interest formula,
substitute the given values
and solve for the missing variable

Respuesta :

Answer:

$6000

Step-by-step explanation:

Simple intersest = PRT /100

P = principal

R = rate

T = time

From the question

P = $15000

R = 4%

t = 10 years

Therefore,

Interest = 15000 x 4 x 10 /100

=600000/100

= $6000

She will pay an interest of $6000 after 10 years