dockdemon dockdemon

01-12-2017
Mathematics

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What is the interest for an $8,720 loan at 12.5 percent for 15 years?

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Aliwohaish12 Aliwohaish12

03-12-2017

The formula is
I=prt
I interest?
P loan 8720
R interest rate 0.125
T time 15 years
I=8,720×0.125×15
I=16,350

Hope it helps!

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