how much money do i need for simple interest for $2000 at 5% interest in 2 years?

first scince it say 2 years you multiply then add like this.

2000x5%=100.00
next 100.00+2000=2100.00
thats the first year

2100.00x5%=105.00
105.00+2100=2205.oo
for the second year
so your answer will be $2205,105

To calculate the simple interest, you can use the formula:

I = P * r * t

Where:
I = Interest
P = Principal (initial amount)
r = Interest rate per period
t = Number of periods

In your case, the principal (P) is $2000, the interest rate (r) is 5% (or 0.05 as a decimal), and the time period (t) is 2 years.

Plugging these values into the formula gives us:

I = 2000 * 0.05 * 2
I = 2000 * 0.1
I = $200

Therefore, the simple interest for $2000 at 5% interest for 2 years is $200.

To calculate the simple interest for a particular amount, interest rate, and time period, you can use the following formula:

Simple Interest = Principal (amount) × Interest Rate × Time

In this case, the principal (amount) is $2000, the interest rate is 5% (0.05 in decimal form), and the time period is 2 years. Plugging these values into the formula, we can calculate the simple interest:

Simple Interest = $2000 × 0.05 × 2

Now we can solve the equation:

Simple Interest = $2000 × 0.05 × 2
= $2000 × 0.1
= $200

Therefore, the simple interest for $2000 at a 5% interest rate over 2 years is $200.