Ken borrowed $2000 from sam at 8%per annum. after 6 years he cleared the amount by giving $2600 cash and a watch. find the cost of the watch

So first you have to find the annual interest
So you take 2000 and multiply it by .08%
Which equals 160
So every year the interest is 160
Now take 160 and multiply it by 6 for number of years
Then you get 960 so that's how much interest was gathered over 6 years
So now add 960 to 2000
Which equals 2960
Subtract 2600 to find the differnce
Now only thing is left is 360
So the watch was worth $360