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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%?​

Respuesta :

Luv2Teach

Answer:

Step-by-step explanation:

The simple interest formula is I = prt, where I is the interest earned, p is the initial investment, r is the interest rate as a decimal, and t is the time in years. Filling in according to our info:

I = 2000(.02)(5) so

I = 200

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