P = $48,000
r (Rate) = 5%
t (Time) = 5 (Years)
Interest = Prt =(48,000)(0.05)(5)= $12,000
The simple interest is $12,000 over the course of 5 years, with an annual interest of 5% and a loan of $48,000
I hope that answers your question! (I'm new to this app so sorry if that's not what you were looking for!)
