Answer:
Leo's investment is worth $1,760 at the end of 3 years
Step-by-step explanation:
Simple Interest
Leo invests $2,000 and loses money at a rate of 4% (yearly),
It's required to find the value of his money at the end of 3 years.
Since Leo losses 4% per year, the amount lost per year is:
$2,000*4/100=$80
For three years, he loses 3*$80 = $240
Thus, his money is worth:
$2,000 - $240 = $1,760
Leo's investment is worth $1,760 at the end of 3 years
