Question

Rondel's parents borrow $5000 from the bank for a new car. The interest rate is 6% per year. How much simple interest will they pay if they take 2 years to repay the loan?

$600.00
$500.00
$480.00
$540.00

Answer 1

600

Explanation:

6 percent of 5000 is 300. 300x2=600.

Sorry if im wrong