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Gekata [30.6K]
3 years ago
12

Ethan borrowed $2,190 for a new dirt bike. He will pay the money back in 3 years with a simple interest rate of 2.5%. How much i

nterest will he pay?
Mathematics
1 answer:
Taya2010 [7]3 years ago
3 0

Answer:

<h2>The interest ethan will pay is $164.25</h2>

Step-by-step explanation:

To calculate the interest paid by ethan on the borrowed bike using the formula.

Simple Interest = Principal * rate * time/100

Principal =  $2,190, rate = 2.5%, time = 3years

On substitution

SI = \frac{2190*3*2.5}{100}

SI = \frac{16,425}{100}\\ SI= $164.25

The interest ethan will pay is $164.25

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