Answer:
Simple interest = $2750
Step-by-step explanation:
Principal; P = $22000
Time; t = 5 years
Rate; r = 2.5%
Formula for simple interest is;
i = PRT/100
i = (22000 * 2.5 * 5)/100
i = $2750
Answer:
2750
Step-by-step explanation:
simple interest = (22,000*5*2.5)/100
simple interest= 2750
