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What is the interest earned if James will deposit 20,000 at 2% interest rate after 5 years? ​

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Cathy89viz

Answer:

2,000

Step-by-step explanation:

Let, the interest earned on the principal of 20,000 be ‘I’, at the rate of 2% p. a in 5 years.

Now, I = 20,000 × 2% × 5

= 2,000

So, the interest earned = 2,000 (answer)

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