Dilbert invests $2,000 into an account at an annual rate of 0.2% simple interest for 24 months.

1) What is the Principal in this scenario?

• 0.2 %
• $2,000
• 0.002
• 2

2) What is the interest rate for this account?

• 2
• 0.002
• 0.2 %
• $2,000

3) What number do you use to represent the interest rate in the simple interest formula?

• 0.2 %
• 0.002
• 2
• $2,000

4) What is the length of time of this investment, in years?

• 0.002
• $2,000
• 0.2 %
• 2

5) Calculate the simple interest earned on this account.