Answer:
The interest is $1600 and the amount is $3600.
Step-by-step explanation:
STEP 1: Find an interest by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.
In this example P = $2000, i = 4% and t = 20 years, so
III=P⋅i⋅t=2000⋅0.04⋅20=1600
STEP 2: Find an amount by using the formula A=P+I.
Since P = $2000 and I = $1600 we have
AAA=P+I=2000+1600=3600
