If the simple interest on $2000 for 2 years is $320, then what is the interest rate?

Answer : The interest rate is, 8 %

Step-by-step explanation :

Given:

Principle = $2000

Simple interest (S.I) = $320

Time = 2 years

Now we have to determine the interest rate.

Formula used :

where,

P = principle  

R = interest rate

T = time

S.I = simple interest

Now put all the given values in the above formula, we get:

Thus, the interest rate is, 8 %

hello i am doing good for you that it's summer in your country or state ; )

btw in my country we just have sun and rain as (because i live in the caribbean lol)

also, thx a lot for the points : )

probably .5

i can on others if necessary.