You are making payments for a $1,475 loan that has a simple interest rate of 7.54% for 5 years.
what is the total amount you will owe? how much is each monthly payment?

$2,031.08

Step-by-step explanation:

You want to calculate the interest on $1475 at 7.54% interest per year after 5 year(s).

The formula we'll use for this is the simple interest formula, or:

                                                    I=P x r x t

P is the principal amount, $1475.00.

r is the interest rate, 7.54% per year, or in decimal form, 7.54/100=0.0754.

t is the time involved, 5year(s) time periods.

So, t is 5year time periods.

To find the simple interest, we multiply 1475 × 0.0754 × 5 to get that:

The interest is: $556.08

Usually now, the interest is added onto the principal to figure some new amount after 5 year(s),

or 1475.00 + 556.08 = 2031.08. For example:

If you borrowed the $1475.00, you would now owe $2031.08

If you loaned someone $1475.00, you would now be due $2031.08

If owned something, like a $1475.00 bond, it would be worth $2031.08 now.

what

the multiples of 15 are 15, 30,45, 60, 75, 90, 105, 120, 135, 150, 165, 180, 195,   210, 225, 240, 255, 270, 285, 300, 315, 330, 345, 360, 375,   390, 405, 420, 435, 450, 465, 480, 495, 510, 525, 540, 555, 570, 585, 600, 615, 630, 645, 660, 675, 690, 705, 720, and 735.

the factors of 15 are 1, 3, 5, and 15.

hope that , fam!

-une, your fren : )