Final answer:
April will earn $60 in interest over five years on her $600 deposit in a savings account with a 2% simple interest rate.
Step-by-step explanation:
To solve the mathematical problem completely and understand how much interest April will earn on a $600 deposit at a 2% simple interest rate over five years, we can use the simple interest formula, which is:
Interest = principal × rate × time
Using April's scenario:
Principal is $600 (the initial amount deposited)
Annual interest rate is 2% (0.02 when converted to a decimal)
Time is 5 years
Now let's calculate:
Interest = $600 × 0.02 × 5
This yields:
Interest = $60
Therefore, April will earn $60 in interest over the course of five years with the given conditions.