SOLUTION: An aunt lent her nephew $2000. The newphew agreed to pay his aunt 4% simple interest. If he promised to repay her the entire amount owed at the end of 3 years, how much money must

SOLUTION: An aunt lent her nephew $2000. The newphew agreed to pay his aunt 4% simple interest. If he promised to repay her the entire amount owed at the end of 3 years, how much money must

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Question 405102: An aunt lent her nephew $2000. The newphew agreed to pay his aunt 4% simple interest. If he promised to repay her the entire amount owed at the end of 3 years, how much money must he pay her?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I=2000*0.04*3
I=240
2000+240=$2,240
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