Hellppp + 18 pts : megan has a loan of $25,650. this loan has a simple interest rate of 4% per year. what is the amount of interest that megan will be charged on this loan at the end of one year?

interest of one year Loan is: $ 1,026

Step-by-step explanation:

Simple interest is applied just to the principal loan.

Because the question is just for the Simple interest we can use the formula to find the interest:

P*i*n

Where P is the principal (loan) = $ 25,650

i is the simple interest rate: 4%

n is the Period of time= 1 year.

Just Replace.

Therefore the simple interest is: P*i*n = $ 25,650*4%*1 = $ 1,026