Asked by Luke Airhart

You borrow $2,000 for a period of 4 years. You are charged simple interest at a rate of 3%. How much will you repay at the end of 4 years? Please answer. Thank you
Answered by Ms. Sue
I = PRT

I = 2,000 * 0.03 * 4

Add the interest to the principal to find the total you need to repay.

Answered by Luke Airhart
Thank you
Answered by hi
the answer is 2,240
There are no AI answers yet. The ability to request AI answers is coming soon!