SOLUTION: Find the interest earned on a deposit of $2000.00 at 8% for 5 years.

SOLUTION: Find the interest earned on a deposit of $2000.00 at 8% for 5 years.

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Question 876936: Find the interest earned on a deposit of $2000.00 at 8% for 5 years.
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Assuming simple interest,

I = P*r*t
I = 2000*0.08*5
I = 800

You will earn $800 in simple interest.
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