I need help figuring this out even just the equation would help me

[dreamdeamon]

	Principal	Annual Rate	Time	Interest
Loan 1	$1,250.00	8.50%​ ​ ​ ​ ​	3.5 years
Loan 2		14.00%​ ​ ​ ​ ​	4 years	$ 512.21
Loan 3	$ 700.00	6.00%​ ​ ​ ​ ​		$ 84.00
Loan 4	$2,600.00		1.25 years	$ 35.92

 

[mmm4444bot]

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Cheers ~ Mark :cool:

 

[HallsofIvy]

In addition, I would be very surprised if that formula were not given in your textbook- probably in the same chapter as that exercise.