Answer:
$208.16
Step-by-step explanation:
Multiply 2000 · 0.02 = 40
Add 40 to 2000
2040
Multiply 2040 by 0.02 = 40.8
Add 2040 + 40.8
2080.8
Multiply 2080.8 · 0.02 = 41.61
Add.
2122.416
Multiply by 0.02
42.44832
Add.
2164.86342
That was 5 years
Now we add all the interest earned together
40 + 40.8 + 41.616 + 42.44832 + 43.2972864
The answer is 208.1616064
Round it up to nearest hundredth
208.16
Hope this helped :)
