Ethan borrowed $2,190 for a new dirt bike. He will pay the money back in 3 years with a simple interest rate of 2.5%. How much interest

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...
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Please help.
Ethan borrowed $2,190 for
a new dirt bike. He will pay
the money back in 3 years
with a simple interest rate
of 2.5%. How much interest
will he pay?
A) $164.25
baffled
B) $172.75
concerned
C) $1,642.50
forced
D) $1,727.50
honored
E) $2,354.25
delighted
Transcribed Image Text:Ethan borrowed $2,190 for a new dirt bike. He will pay the money back in 3 years with a simple interest rate of 2.5%. How much interest will he pay? A) $164.25 baffled B) $172.75 concerned C) $1,642.50 forced D) $1,727.50 honored E) $2,354.25 delighted
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