Aldo deposits $700 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 6 years?

asked Aug 25, 2021 195k views

0 votes

5.1k points

Please log in or register to add a comment.

5 votes

Answer:

$84

Explanation:

Principal = $700

r =2 % = 0.02

t = 6 years

Simple Interest = Prt

= 700 * 0.02 * 6

= $84

Davin Tryon answered Aug 30, 2021

5.9k points

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.8m questions

7.6m answers