Question

thang decided to buy $2000 from his local bank to help pay for a car his loan was for 3 years at a simple interest rate of 8% how much interest will thang pay

Answer 1

Answer:

Thang will pay his bank $480 in interest.

Step-by-step explanation:

8% of 2000 is equal to

$2000 \times 0.08 = 160$

160.

$160 over a period of 3 years is equal to

$160 \times 3 = 480$

$480.