Ask Question
14 November, 19:04

Angie takes a loan of $1000 that has a simple interest rate of 3% annually. What is the amount of interest accrued after 2 years?

+3
Answers (1)
  1. 14 November, 22:44
    0
    Answer: $60

    Step-by-step explanation:

    Principal (P) = $1000

    Time (T) = 2years

    Rate (R) = 3%

    Interest (I) = ?

    Since, Simple Interest (I) = P x T x R / 100

    inputting the values

    I = (1000 x 2 x 3) / 100

    I = 6000 / 100

    I = $60
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Angie takes a loan of $1000 that has a simple interest rate of 3% annually. What is the amount of interest accrued after 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