Answer:
She will pay 7500 as interest over 5 years .
She will pay 3500 over the year.
Step-by-step explanation:
Leah borrows 10,000 over 5 years at a simple interest rate of 15%.
Now, Principal(P)= 10,000
Time(T)= 5 years
rate percent (R)= 15%
Let, Interest be I
We know that, I = [tex]\frac{P.R.T}{100}[/tex]
Or,I = (10000×15×5)÷100
∴ I = 7500
Amount = Principal + Interest
= 10000 + 7500
= 17500 for 5 years
Amount for one year = 17500÷5 = 3500
