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 Nov 11, 2021 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%?

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7 votes

Answer:

Interest = $208

Explanation:

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

Beny Boariu answered Nov 17, 2021

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