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Principal, $2000; Annual interest rate, 5.4%; time, 2 years; The balance after 2 years is?

Principal, $2000; Annual interest rate, 5.4%; time, 2 years; The balance after 2 years is?
asked 178k views
5 votes
Principal, $2000; Annual interest rate, 5.4%; time, 2 years; The balance after 2 years is?

asked
User Memoizer
by
8.2k points

1 Answer

3 votes
P = $2000
R = 5.4%
T = 2 yrs

Interest = PTR/100 = 2000*2*5.4/100 = $216
Balance = $2000 + $216 = $2216
answered
User Racecarjonathan
by
8.4k points
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