Answer
$\$225$
Work Step by Step
Find the interest using the formula $I=Prt$ where $P$=principal loan amount, $r=$annual interest rate, and $t$=time in years.
$I=\$2500 \times 4.5\% \times 2
\\=\$2500 \times 0.045 \times 2
\\=\$225$
Elementary Technical Mathematics
by Nelson, Robert; Eren, Dale;
Published by
Brooks Cole
ISBN 10:
1285199197
ISBN 13:
978-1-28519-919-1
Chapter 1 - Section 1.16 - Application Involving Percent: Business and Personal Finance - Exercises - Page 95: 2
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