Jose invested $5000 into a fund with an interest rate of 4.8%. how much interest would he earn after 2 years? a) $240 b) $24,000 c) $480 d) $48,000

C) $480  

Step-by-step explanation:

Given: Jose invested $5000 into a fund with an interest rate of 4.8%.

Therefore, Principal amount (P)$5000

Rate of interest = 4.8%

In decimal rate of interest(r)=0.048

Time (t)= 2 years

We know that the simple interest is given by

Hence, the interest after 2 years = $480

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step-by-step explanation: