500 for 2 weeks at #100 interest per week
The total amount of interest earned over two weeks at a rate of $100 per week is $200.
To calculate the total interest for a loan of 500 for 2 weeks at an interest rate of 100 per week, you can follow these steps:
Step 1: Find the total number of weeks:
Since the loan is for 2 weeks, the total number of weeks would be 2.
Step 2: Calculate the total interest paid per week:
The interest rate is 100 per week, so the total interest paid per week would be 100.
Step 3: Calculate the total interest for the entire loan period:
To find the total interest for the entire loan period, multiply the total number of weeks by the total interest paid per week:
Total interest = Total number of weeks × Total interest paid per week
Total interest = 2 × 100 = 200
Therefore, the total interest for a loan of 500 for 2 weeks at an interest rate of 100 per week would be 200.