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How much simple interest would be earned on a certificate of deposit worth $2,000 over a period of 5 years with an interest rate of 2%?

How much simple interest would be earned on a certificate of deposit worth $2,000 over a period of 5 years with an interest rate of 2%?
asked 101k views
2 votes
How much simple interest would be earned on a certificate of deposit worth

$2,000 over a period of 5 years with an interest rate of 2%?

asked
User Darrel Holt
by
8.6k points

1 Answer

7 votes

Answer:

Interest = $208

Explanation:

At the end of 5 years, your savings will have grown to $2,208.

answered
User Beny Boariu
by
8.6k points
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