Stephanie is taking out a loan in the amount of $15,000. Her choices for the loan are a 4-year loan at
3% simple interest and a 5-year loan at 5% simple interest. What is the difference in the amount of interest
Stephanie would have to pay for each of these two loans?
$1,950
$3,750
$4,550
$1,800

$1950

Step-by-step explanation:

Simple interest amount payable is given by

A=P(1+rt) where p is principal amount, A is final amount paid, t is time and r is rate of interest. For the first case

A=15000(1+0.03*4)=$16800

For second case

A=15000(1+0.05*5)=$18750

Difference will be 18750-16800=$1950

you already gave the answer

step-by-step explanation:

10 down (bang1)

5 up

5down (2)

2.5 up

2.5 down (3)

1.25 up

1.25 down (4)

now add them up : )

hoped i lol