Respuesta :

P = $2000,  Rate, r = 6% = 0.06 per year, Time, t = 5 years.

For compound interest compounded annually:

A) Amount, A = P(1 + r)^t

A = 2000(1 + 0.06)⁵

A = 2000(1.06)⁵ ≈  2676.45

Amount ≈ $2676.45

B) Interest = Amount - Principal 

                 = 2676.45 - 2000 = 676.45

Interest ≈ $676.45