Find the interest paid on a loan of $2,200 for two years at a simple interest...

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Find the interest paid on a loan of $2,200 for two years at a simple interest...

Find the interest paid on a loan of $2,200 for two years at a simple interest rate of 11% per year. The interest on the loan is $17

business accounting

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Answer 1

Answer #1

Interest paid = Amount*rate*time

= 2200*11%*2

Interest paid = 484

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Answer 2

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Find the interest paid on a loan of $2,200 for two years at a simple interest...

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