Question

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?

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.

Answer 2

60 dollars. you will use the formula I=PRT