Jane Doe borrowed $225,000 for five years at 13 percent. The annual interest charge was
+70 The equation you would use is I= P * r * t
P is the begining amount, or $225,000 in your case
r is the intrest rate or 13%, which converted to a decimal is .13
t is the amount of time in years so in your case, it is 5
225000 × 0.13 x 5 = $146250
