Jane Doe borrowed $225,000 for five years at 13 percent. The annual interest charge was

Guest Sep 20, 2017

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

NediaMaster  Sep 21, 2017

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