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Dale deposits $4000 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 5 years?
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3 votes
Dale deposits $4000 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 5 years?

User Sushant Sardeshpande
by
3.9k points

1 Answer

4 votes

Answer:

$1200

Explanation:

$4000 x .06 = $240 x 5 years = $1200

User AndrewD
by
4.5k points
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