You get a student loan from the New Mexico Educational Assistance Foundation to pay for your educational expenses this year.
Find the interest on the loan if you borrowed $5000 at 5% interest for 1 year.

This is what i found “an explicit formula designates the nth term of the sequence, as an expression of n (where n = the term's location). it defines the sequence as a formula in terms of n. this example is an arithmetic sequence(the same number, 5, is added to each term to get to the next term).” i hope this you for what your looking for. can you plz mark me brainliest?