Nate borrows $300 to buy a smartphone. He is charged 5% simple interest per year. How much interest, in dollars, will Nate pay after 2 years?

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asked Aug 16, 2022 108k views

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Shihpeng · Answer 1 · 2022-08-20T23:14:03+0000

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He is charged 5% simple interest per year. How much interest, in dollars, will Nate pay after 2 years? The interest after 2 years will be 0.05*300*2 = 30 dollars.

Nate borrows $300 to buy a smartphone. He is charged 5% simple interest per year. How much interest, in dollars, will Nate pay after 2 years?

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