Bruce takes out a personal loan of $1,000 to go on a trip to florida. his loan has an annual simple interest rate of 10%. when you calculate bruce’s debt, be sure to use the formula for simple interest. a = (p)(r)(t) bruce borrowed $1,000 for his trip. if bruce waits for five years to begin paying back his loan, how much will he owe? $1,200 $1,300 $1,500 $1,800