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Jose invested $5000 into a fund with an interest rate of 4.8%. How much interest would he earn after 2 years? A) $240 B) $24,000 C) $480 D) $48,000

Jose invested $5000 into a fund with an interest rate of 4.8%. How much interest would he earn after 2 years? A) $240 B) $24,000 C) $480 D) $48,000
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3 votes
Jose invested $5000 into a fund with an interest rate of 4.8%.

How much interest would he earn after 2 years?
A) $240
B) $24,000
C) $480
D) $48,000

User Marko Nikolov
by
8.2k points

2 Answers

1 vote
He will earn $480 after 2 years
User Fobbymaster
by
8.3k points
3 votes
It would be $480 because if $240 is 4.8% of 5000 just add another $240Hope that helped
User Suyash
by
7.9k points
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