Ask Question
5 November, 13:53

Tim invest $16,100 in an account that pays 6% interest per year for 5 years how much simple interest will he earn round your answer to the nearest Penny if necessary

+1
Answers (1)
  1. 5 November, 14:22
    0
    Simple interest for one year:

    $16100 x 0.06

    = $966

    Simple interest for five years:

    $966 x 5

    = $4830
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Tim invest $16,100 in an account that pays 6% interest per year for 5 years how much simple interest will he earn round your answer to the ...” 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