0.05% of 20000 = 10
6 ÷ 100 × 20000 = 1200
20000*3/100 = 600 per period.
Total value = 20000*(1.06)2 = 22472 So interest = 2472
700
$5,249.54
50,940 dollars
20,000 + 2(0.05)(20,000) = 22,000
1600
4000 !
5000 dollars
3% of 20,000 is 600
1 percent of 2,000 is 20 .