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Joy borrowed $2,000 from the bank and agreed to pay an annual interest rate of 6%for 24 months. What is the amount Of interest she will pay on this loan?
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9 votes
Joy borrowed $2,000 from the bank and agreed to pay an annual interest rate of 6%for 24 months. What is the amount Of interest she will pay on this loan?

User Chasew
by
8.2k points

2 Answers

5 votes

Answer:

2,240

Explanation:

6% of 2,000 is 120 so times that by 2

User Alex Robinson
by
9.3k points
6 votes

Answer:

$240.00

Explanation:

2000(.06)(2)=240

User Angloos
by
7.5k points
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