Question

Find the profit on 6000 for one year at 4% per annum

Answer 1

$240

Explanation:

4% of $6000 = $240

Answer 2

240 dollars.

Explanation:

I'd be assuming you mean the returns on interest rate after you put $6000 into the system, kind of like how you get returns after you deposit money at the bank. In that case:

`6000 \cdot (1 + 4%) - 6000`

`= 6240 - 6000`

`= 240` dollars

Of course, you didn't say how frequently the interest rate would be compounded, so this result would be if the interest was compounded yearly.

Hope this helped!