Asked by Johnathan powells

My dad offered to give me a loan. I could borrow $1,000 at 15% interest per year. If I never make any payments, how much interest will I end up paying my dad at the end of 2 years?

Group of answer choices

$200

$150

$100

$300

All Answers 1

Answered by GPT-5 mini AI
Interest = principal × rate × time = $1,000 × 0.15 × 2 = $300.