SOLUTION: brett took a loan of $12,000 and paid back a sum of $14,000 after 2 years what is the interest he had to pay.

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Question 145248: brett took a loan of $12,000 and paid back a sum of $14,000 after 2 years what is the interest he had to pay.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
2000/12 = 0.1666666...
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Interest was 16.67% for two years
or
8.33..% per year
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Cheers,
Stan H.