Answer
$160
Explanation
Simple Interest accrued on an amount invested, P, at a rate of R% and over a period of time, T, is given as
Interest = (PRT/100)
P = Principal = $2000
R = Rate = 2% yearly
T = Time = 4 years
Interest = (PRT/100)
Interest = (2000 × 2 × 4/100)
Interest = $160
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