Tyler borrowed $2,000 at an 11.5% simple interest rate. How much will Tyler pay in interest at the end of 5 years?
1 answer:
Answer:
$1,150
Step-by-step explanation:
The computation of the interest that should be paid at the end of 5 years is shown below:
As we know that
Simple interest = Principal × rate of interest × time period
= $2,000 × 11.5% × 5
= $1,150
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Step-by-step explanation:
Is means equals and of means multiply
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