Question

Raina deposits $6000 into an account that pays simple interest at a rate of 2% per year. How much interest will she be paid in the first 5 years

Answer 1

She will have $600 in the first five years

Explanation:

6000 - 10% = 5400 so it takes 600 and 2% in each year = 10% every 5 years so it is 600