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Aaron borrowed $200 from his cousin. He promised to repay the loan in 2 years at a simple annual interest rate of 5%. How much interest will Aaron owe at the end of 2 years?

Aaron borrowed $200 from his cousin. He promised to repay the loan in 2 years at a simple annual interest rate of 5%. How much interest will Aaron owe at the end of 2 years?
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2 votes
Aaron borrowed $200 from his cousin. He promised to repay the loan in 2 years at a simple annual interest rate of 5%. How much interest will Aaron owe at the end of 2 years?

asked
User Sebastin Santy
by
8.4k points

2 Answers

3 votes

Answer:

$20

Explanation

answered
User JabKnowsNothing
by
7.6k points
3 votes
Aaron will owe $20 of interest at the end of the 2-year term.
answered
User Jutky
by
8.5k points
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