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

Answer 1

I = PRT

I = 2,000 * 0.03 * 4

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

Answer 2

Thank you

Answer 3

the answer is 2,240