michelleli359
michelleli359 michelleli359
  • 09-03-2020
  • Mathematics
contestada

Karen deposits $300 into an account that pays simple interest at a rate of 4% per year. How much interest will she be paid in the first 5 years?

Respuesta :

FlynnHext FlynnHext
  • 09-03-2020

Answer: $60

Step-by-step explanation:

1% of $300 is $3

4% of $300 is $12

$12 a year for 5 years is $60

Answer Link
TheCannyKing TheCannyKing
  • 20-03-2020

Answer:

60

Step-by-step explanation:

The formula for finding simple interest is A=PRT/100

P=300

R=4

T=5

So, A=300 x 4 x 5/100

     That equal to 60

Answer Link

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