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Corinne made a deposit of $6,000 into an account with a simple interest rate of 5%. How much interest will be in the account after 8 years?
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Corinne made a deposit of $6,000 into an account with a simple interest rate of 5%. How much interest will be in the account after 8 years?

User Sambhaji
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1 Answer

6 votes

Answer:

$8,864.73

Explanation:

Base amount: $6,000.00

Interest Rate: 5% (yearly)

Effective Annual Rate: 5%

Calculation period: 8 years

Corinne made a deposit of $6,000 into an account with a simple interest rate of 5%. How-example-1
User Eziz Durdyyev
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