Question 496044
Linda took out a simple interest loan for $7,000 at 11% interest for 5 years. How much interest did she have to pay back?


Simple interest = PTR, where P = principal or amount of loan, T = time (in years), and R = interest rate (annual)


We therefore have: Simple interest = (7,000)(5)(.11) ----- ${{{highlight_green(3850)}}}


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