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

Question

Mathematics

Baron Raymond

27 March, 17:46

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

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Answers (2)

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Norah · Answer 1

Karen will be payed $60 in interest in the first four years.

We can solve this problem by using the simple interest formula (Interest = Principal * Rate * Time)

Interest = 300 * 5/100 * 4

Interest = 60, meaning that Karen will be payed $60 in interest in the first four years.

Nikhil Terry · Answer 2

60 dollars. you will use the formula I=PRT