Question

laura deposits $2000 into an account that pays simple interest at a rate of 2% per year. How much interest will she be paid in the first 6 years?

Answer 1

She will be paid $2,240.

The equation to use for this is: A=P(1+rt)

More specifically:
A = 2000(1 + (0.02 × 6)) = 2240
A = $2,240.00