Answer:
5 years of interest would be $1,750
Step-by-step explanation:
not sure what you are looking for as far as an answer, but if you are charging 5% interest every year for 5 years the total would be $1750 because each year the interest charge would be $350....This would make your total loan for 5 years $8,750
Answer:
$1750
Step-by-step explanation:
($7,000/ 100) * 5 = $350(interest) * 5= $1750
