Drag the descriptions of each loan into order, from which will have the least simple interest owed to which will have the most simple interest owen. - Loan of $2,500 at 4% simple interest for 6 years- Loan of $2,000 at 12% simple interest for 6 years - Loan of $2,000 at 4% simple interest for 16 years

Answer:$2500 @ 4%$2000 @ 4%$2000 @ 12%Step-by-step explanation:The amount of interest earned by each loan is computed using the formula ...   I = Prtwhere P is the principal amount, r is the annual rate, and t is the time period in years.In the order the loans are described in the problem statement, the interest amounts are ...   I1 = 2500·.04·6 = 600   I2 = 2000·.12·6 = 1440   I3 = 2000·.04·16 = 1280From least-to-greatest, the interest owed will be associated with ...loan 1loan 3loan 2