Eric borrowed $3000 from his dad and agreed to pay his dad back the principal plus a rate of 3% simple interest. How much interest Alex will owe his dad after 2 years?

Question

Ada Mccoy

Mathematics

2 December, 06:29

Eric borrowed $3000 from his dad and agreed to pay his dad back the principal plus a rate of 3% simple interest. How much interest Alex will owe his dad after 2 years?

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Answers (1)

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Glenn Knapp · Answer 1

To find the answer, you can use I = p*r*t

Substitute I for interest, p for principle, r for rate, t for time-

I = p*r*t

I = 3000 * 0.03 * 2

I = 180