Calculate the interest of a loan of $25000 at 8.5% per annum for 2.5 years, and his much is owned in total after the given time period if nothing is repaid.
25,000 X 8.5/100=$2,125 Simple interest for 1 year
$2,125 X 2.5 years=$5,312.5 Simple interest for 2.5 years
$25,000 + $5,312.50=$30,312.50 Total owed after 2.5 years.
