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You borrow $2000 from a friend and promise to pay back $3000 in two years. What simple interest rate will you pay?

You borrow $2000 from a friend and promise to pay back $3000 in two years. What simple interest rate will you pay?
asked 104k views
0 votes
You borrow $2000 from a friend and promise to pay back $3000 in two years. What simple interest rate will you

pay?

asked
User Omnipresence
by
8.3k points

2 Answers

6 votes
The interest rate is 500 per year
answered
User Elias Limneos
by
8.7k points
4 votes
The interest is 500 per year
answered
User Hyori
by
7.9k points
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