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Nate borrowed $400 to pay for car repairs. If he agreed to repay the loan at a simple annual interest rate of 6%, how much interest will he owe at the end of 2 years? A. $12 B. …

Nate borrowed $400 to pay for car repairs. If he agreed to repay the loan at a simple annual interest rate of 6%, how much interest will he owe at the end of 2 years? A. $12 B. …
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2 votes
Nate borrowed $400 to pay for car repairs. If he agreed to repay the loan at a simple annual interest rate of 6%, how much interest will he owe at the end of 2 years?

A. $12
B. $24
C. $32
D. $48
Please help me out :)

asked
User JDutil
by
7.4k points

2 Answers

3 votes
the correct answer would be D
answered
User Gordon Bell
by
8.0k points
6 votes
okay so 6% of 400 is 24 and 24 times 2 is 48, so the answer is D
answered
User Abaracedo
by
8.4k points
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