Answer:
$240.00
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 1.2%/100 = 0.012 per year,
then, solving our equation
I = 2000 × 0.012 × 10 = 240
I = $ 240.00
The simple interest accumulated
on a principal of $ 2,000.00
at a rate of 1.2% per year
for 10 years is $ 240.00.
