Billy took out a 15 year loan with a principal of $25,000. He made monthly payments of $250 for the entire period, at which point the loan was paid off. How much did Sam pay in interest? 1. $20,000
2. $40,000
3. $30,000
4. $10,000

The awnser is #3

3. $30,000

Step-by-step explanation:

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of