Thang decided to borrow $2000 from his local bank to pay for a car. his loan was for 3 years at a simple intrest rat it 5%. how much interest will thang pay?

Thang will pay $300 as interest

Step-by-step explanation:

We would apply the formula for determining simple interest which is expressed as

I = PRT/100

Where

P represents the principal

R represents interest rate

T represents time in years

I = interest after t years

From the information given

T = 3 years

P = $2000

R = 5%

Therefore

I = (2000 × 5 × 3)/100

I = 30000/100

I = $300

john earns $14.00 for two hours of work.