Question

HELP? You put $1000 into an investment yielding 6% annual interest; you left the

money in for two years. How much interest do you get at the end of those
two years?

Answer 1

$120

Explanation:

as long as the interest is not being compounded, use the simple interest formula of:

Interest = Principal x Interest Rate x Time (in years)

I = 1000(.06)(2)

I = 120