Answer:
$168
Step-by-step explanation:
The formula we'll use for this is the simple interest formula, or:
I=Prt
Where:
P is the principal amount, $2000.00.
r is the interest rate, 4.2% per year, or in decimal form, 4.2/100=0.042.
t is the time involved, 2....year(s) time periods.
So, t is 2....year time periods.
To find the simple interest, we multiply 2000 × 0.042 × 2 to get that:
The interest is: $168.00
