What is the simple interest for a loan of $2,000 that has a 2.2%rate for 3 years?

The simple interest is given by:

where:

P = Principal = 2000

r = rate = 2.2 = 0.022

t = time = 3

so:

$132

see explanation

step-by-step explanation:

since the sequence is geometric there is a common ratio r between consecutive terms, that is

r = 4 ÷ - 2 = - 2

r = - 8 ÷ 4 = - 2

r = 16 ÷ 8 = - 2

the next term - 13 must be incorrect as it should be - 32 for the sequence to be geometric.

the first 4 terms are therefore geometric with common ratio r = - 2