Answer:
5%
Explanation:
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year,
then, solving our equation
I = 2000 × 0.05 × 5 = 500
I = $ 500.00
The simple interest accumulated
on a principal of $ 2,000.00
at a rate of 5% per year
for 5 years is $ 500.00.