Answer:
The interest earned is $450.40
Step-by-step explanation:
We are given the formula
I =PRT
where I is the interest, p is the principal, r is the rate and t is the time
p = 5630,
r = 4 % which we convert to a decimal = .04
t = 2 years
Substitute these into the equation
I = 5630 * .04 * 2
450.40
The interest earned is $450.40
