Salma deposits $3000 into an account that pays simple interest at a rate of 5% per year. How much interest will she be paid in the first 2 years?

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asked Feb 19, 2023 16.5k views

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Salma deposits $3000 into an account that pays simple interest at a rate of 5% per year. How much interest will she be paid in the first 2 years?

Mathematics
high-school

Eylen asked

by Eylen

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Answer:

SI =principal × rate×time

SI =3000 × 5/100 ×2

SI =300

Amount in 2 years

SI + principal

300 +3000

=$3300

Chanrithisak Phok answered Feb 23, 2023

by Chanrithisak Phok

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