Question 536236
If the problem doesn't specify, then it's simple interest.<P>

The formula for simple interest<P>
P = Principal = 2000<br>
r = interest rate =6% = 6/100 = .06<br>
t = time (in years) = 5<br>
I = interest earned = solution <br>
I=P*r*t<P>
I =2000*.06*5= $600<P>
He will earn $600 in 5 years.  He will have the original principal plus the interest after 5 years.  <P>
$2000+$600=$2600.

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