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Hans deposits $300 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 5 years?

Hans deposits $300 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 5 years?
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4 votes
Hans deposits $300 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 5 years?

User Gogonapel
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1 Answer

2 votes
300 x 0.02 x 5 = 30
answer
interest will $30 in the first 5 years
User Ihor Bykov
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8.2k points
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