The simple interest on $2,000 for 2 years is $320. What is the interest rate?

asked Apr 18, 2023 184k views

15 votes

by Eouti

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8 votes

Answer:

$320/2 = $110 for one year of interset form $2000

$110 / $2000 = 0.055

$2000* 0.055 = $110

$110 * 2 = $320 intrest for two years

Explanation:

Turkhan Badalov answered Apr 23, 2023

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