SOLUTION: Miguel deposits $2000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 2 years?

SOLUTION: Miguel deposits $2000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 2 years?

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Question 889480: Miguel deposits $2000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 2 years?

Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I=2000*0.02*2
I=80
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