Ask Question
3 April, 07:01

Ravi deposits $600 into an account that pays simple interest at a rate of 4% per year. How much interest will he be paid in the first 6 years?

+2
Answers (1)
  1. 3 April, 08:18
    0
    Just find the interest paid after one year, and then multiply the result by 6 (years). This gives you the amount of simple interest.

    The easiest approach would be to use the formula i = p r t. In this case p = $600, r = 0.04, and t = 6 years.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Ravi deposits $600 into an account that pays simple interest at a rate of 4% per year. How much interest will he be paid in the first 6 ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers