Find the simple interest for a loan of $2,000 with an interest rate of 11.5% for a period of 2 years
2 answers:
Answer:
The interest is $460.00
Step-by-step explanation:
You want to calculate the interest on $2000 at 11.5% interest per year after 2 years.
the simple interest formula is:
Interest= Principal amount x interest rate x time
To find the simple interest you multiply 2000 x 0.115 x 2
Idk because it’s too confusing
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