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You earn 3% each year on your initial investment amount of $2000. How much interest do you earn after 2 years?

You earn 3% each year on your initial investment amount of $2000. How much interest do you earn after 2 years?
asked 10.7k views
2 votes
You earn 3% each year on your initial investment amount of $2000. How much interest do you earn after 2 years?

asked
User Jonny Wright
by
9.1k points

2 Answers

3 votes
and 6% of 2000 is 120
answered
User Burgersmoke
by
7.8k points
4 votes

Answer: You earn 6% interest on that the next year.

answered
User Amir Shitrit
by
7.8k points
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