The calculations for 2, 4, 8 year can be derived as follows,
For simple interest:
S.I = [tex]\frac{P*T*R}{100}[/tex]
P= principle
T= Time
R= Rate
For 2 year;
S.I = [tex]\frac{2000*2*5.6}{100}[/tex]= $224
Amount = $2224
For 4 year;
S.I = [tex]\frac{2000*4*5.6}{100}[/tex]= $448
Amount = $2448
For 8 year;
S.I = [tex]\frac{2000*8*5.6}{100}[/tex]= $896
Amount = $2896
