Register
How much interest is earned in 2 years on an investment of $2000 the interest rate is 3%?
48.4k views
2 votes
How much interest is earned in 2 years on an investment of $2000 the interest rate is 3%?

User Mistalis
by
7.6k points

2 Answers

1 vote

Answer: $120

Explanation:

The answer is $120 because...

The formula for this problem is Money × Percentage × Time

So, 2000 × 3% = 60

60 × 2 = 120

I had a test with this question and got a 100, proving that $120 is correct.

User Vibhav Singh Rohilla
by
8.9k points
5 votes
2000/100 = 20 x 3 = 60 + 2000 = 2060/100 = 20.60 x 3 = 61.80 + 2060 = 2121.8

the interest earned in 2 years is $121.80
User Harsh Bafna
by
7.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!