Question

The simple interest on $2,000 for 2 years is $320. What is the interest rate?

Answer 1

Answer:

$320/2 = $110 for one year of interset form $2000

$110 / $2000 = 0.055

$2000* 0.055 = $110

$110 * 2 = $320 intrest for two years

Step-by-step explanation: