The sanctuary takes out a $12,500 loan to renovate its gift shop. at 5% simple interest, how much would the sanctuary need to pay back in total after 10 years? enter your answer in the box.

$18,750 is the amount sanctuary need to pay back in total after 10 years.

Step-by-step explanation:

Principal Amount = $12,500

Rate of Interest  = 5%

Time Period  = 10 years

SIMPLE INTEREST =

So, here the SI  =

or the simple interest on P = $6,250

Now,   Amount = Principal + Simple Interest

                            = $12,500 + $6,250  =  $18,750

Hence, $18,750 is the amount sanctuary need to pay back in total after 10 years.