Answer :
Answer:
$32.50
Step-by-step explanation:
The equation for simple interest is
Simple Interest=P×r×n
where:
P=Principal amount
r=Annual interest rate
n=Term of loan, in years
so
P=200
r=0.0325
n=5
so 200*0.0325*5=32.5
Answer:
$32.50
Step-by-step explanation:
The equation for simple interest is
Simple Interest=P×r×n
where:
P=Principal amount
r=Annual interest rate
n=Term of loan, in years
so
P=200
r=0.0325
n=5
so 200*0.0325*5=32.5