Question

You deposited $600 dollars in a savings account hat earns a simple interest rate of 1.5% per year. You want to keep the money in the account for 6 years . How much interest will you earn?

Answer 1

654.00

Explanation:

If you are clear that bank is paying you simple interest, please find details based on your data.

Tried For: Simple Interest

Input:

Principal Amount = 600

Time (In Years) = 6

Rate (Annually) = 1.5

Results:

Interest Amount = 54.00

Total Amount = 654.00

Answer 2

(600 * 0.015) * 6 = 54

He will make $54 in 6 years.