Question: Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interestrate of 8% for 2 years. Use the formula

Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interestrate of 8% for 2 years. Use the formula I = prt to find the amount of interest he will pay on the loan.

I = interest; p = principal; r = rate (expressed as a decimal 0.08); t = time in years

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