Question

The formula for finding the interest on a loan is I = prt. Jack borrows $2,000 for 2 years at a rate of 2%. How much interest will he owe?

Answer 1

Interest= Multiply (price)(rate)(time)
($2,000)(0.02)(2)
Hope this helps!! :)

Answer 2

`i = p * r * t`

`i = 2000 * .02 * 2`

`2000 * .02 = 40`

`40 * 2 = 80`

`i = 80`