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Laura deposit $3000 into an account that pays simple interest at a rate of 2% per year how much interest will she be payed for the first 6 years
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Laura deposit $3000 into an account that pays simple interest at a rate of 2% per year how much interest will she be payed for the first 6 years

User Omkar Dixit
by
7.1k points

1 Answer

2 votes

Answer:

$3,795.96

Explanation:

Base amount: $3,000.00

Interest Rate: 4% (yearly)

Effective Annual Rate: 4%

Calculation period: 6 years

User Luca Braglia
by
6.4k points
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