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The formula for finding the interest on a loan is I = prt. Jack borrows $2,000 for 2 years at a rate of 2%. How much interest will he owe?

Respuesta :

Dancer5363

[tex]i = p \times r \times t[/tex]
[tex]i = 2000 \times .02 \times 2[/tex]
[tex]2000 \times .02 = 40[/tex]
[tex]40 \times 2 = 80[/tex]
[tex]i = 80[/tex]
Smileykbw
Interest= Multiply (price)(rate)(time)
($2,000)(0.02)(2)
Hope this helps!! :)

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