Gerry is borrowing money from a friend at a simple interest rate of 4%. If she borrows $2000 and plans to pay it back in 2 years, how much interest will she owe?

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asked Jun 22, 2018 211k views

5 votes

Gerry is borrowing money from a friend at a simple interest rate of 4%. If she borrows $2000 and plans to pay it back in 2 years, how much interest will she owe?

Mathematics
high-school

Darkhorse asked

by Darkhorse

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1 Answer

5 votes

I= prt
I= 2000 x 2 x .04
Interest is $160
Total it'll be $2160

Unmitigated answered Jun 26, 2018

by Unmitigated

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