Answer:
£5200
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 2%/100 = 0.02 per year,
then, solving our equation
I = 5000 × 0.02 × 2 = 200
I = £ 200.00
The simple interest accumulated
on a principal of £ 5,000.00
at a rate of 2% per year
for 2 years is £ 200.00.
