Nate borrowed $400 to pay for car repairs. If he agreed to repay the loan at a simple annual interest rate of 6%, how much interest will he owe at the end of 2 years?

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asked May 18, 2021 25.2k views

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Nate borrowed $400 to pay for car repairs. If he agreed to repay the loan at a simple annual interest rate of 6%, how much interest will he owe at the end of 2 years?

Mathematics
high-school

David Coufal asked

by David Coufal

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2 Answers

5 votes

Answer:

I believe the answer will be $48 dollars

Explanation:

Hopefully this helps. see ya later!!!!!

Sujeewa answered May 19, 2021

by Sujeewa

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3 votes

Answer:

$48

Explanation:

$400/24=16

16/6=2

2x24=$48

Marlon Creative answered May 21, 2021

by Marlon Creative

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