Ask Question
24 October, 21:04

Find the simple interest for a loan of $2,000 with an interest rate of 11.5% for a period of 2 years

+5
Answers (1)
  1. 24 October, 23:58
    0
    The interest is $460.00

    Step-by-step explanation:

    You want to calculate the interest on $2000 at 11.5% interest per year after 2 years.

    the simple interest formula is:

    Interest = Principal amount x interest rate x time

    To find the simple interest you multiply 2000 x 0.115 x 2
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Find the simple interest for a loan of $2,000 with an interest rate of 11.5% for a period of 2 years ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers