Question

Carmen deposits $2000 into an account that pays simple interest at a rate of 3% per year. how much interest will she be paid in the first 2 years?

Answer 1

Sn=So(1+p/100*2)

2000*(1+3/100*2)=2000(1+3/50)=2000*53/50=40*53=2120$

My answer:2120$