Answer:
Interest = 2000
Total = 4000
Step-by-step explanation:
The formula to find interest:
Interest = Original Amount x Rate x Time.
Substitute the numbers into the formula.
I = 2000 x 0.05 x 20
You must change the percentage to a decimal.
Solve for I
I = 2000 x 0.05 x 20 = 100 x 20 = 2000
The interest is $2,000. To find the amount in total after 20 years, add the interest with the original amount.
2000 + 2000 = 4000
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