Answer:
After 3 years Ryder owes the interest of $3,072 on the loan.
Step-by-step explanation:
Principal amount borrowed = $25,600
Time = 3 years
Rate of Interest = 4%
Now, SIMPLE INTEREST = [tex]\frac{P \times R \times T}{100}[/tex]
So, here S I = [tex]\frac{25,600 \times 4 \times 3}{100} = 3,072[/tex]
Hence, after 3 years Ryder owes the interest of $3,072 on the loan.
