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A 2-year loan of $500 is made with 4% simple interest. Find the interest earned. Please state the answer with a dollar sign followed by a whole number. Example: $32

A 2-year loan of $500 is made with 4% simple interest. Find the interest earned. Please state the answer with a dollar sign followed by a whole number. Example: $32
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5 votes
A 2-year loan of $500 is made with 4% simple interest. Find the interest earned. Please state the answer with a dollar sign followed by a whole number. Example: $32

asked
User Anthony Tobuscus
by
8.1k points

2 Answers

5 votes

Answer:

$10

Explanation:

4% of 500 is 5 dollars and two years is 10

answered
User Hovhannes Sargsyan
by
7.8k points
5 votes
$40 I think


I Used the equation I=Prt
answered
User Cgp
by
7.8k points
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