Answer:
Time = period of loan
Interest amount = $15
Interest rate = 10%
Step-by-step explanation:
Given:
Charge on loan = interest = $15
Interest rate on loan = 10%
Loan period = 2 weeks
The interest formula is given by the relation :
Interest = Principal * rate * time
Using the interest equation given :
The known variables Given in the question are :
Time = period of loan
Interest amount = $15
Interest rate = 10%
