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

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> 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       Log On


   

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) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
I=2000*0.04*3
I=240
2000+240=$2,240