Help with finding the interest?

[crzyvata21]

Change the % to a decimal-->Convert the time to years-->Multiply the principal by the % by the time

5.) $2000 loan, 14%, 2 years


Can someone please help because i'm so confused right now?

 

[JohnW]

Percent means per 100 therefore 14% is 14 / 100 = 0.14 as a decimal value. 2 years is 2 years in years.

 

[donjon]

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