robertserica34p1a1hh
robertserica34p1a1hh robertserica34p1a1hh
  • 11-03-2020
  • Mathematics
contestada

Charlie deposits $4000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 6 years

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tolaosunrinde
tolaosunrinde tolaosunrinde
  • 11-03-2020

Answer: $480

Step-by-step explanation:

Simple interest (I) is calculated as Principal x Rate x Time

From the question, P= 4000

Rate= 2% = 2/100 = 0.02

Time= 6 years

Then slot the values into the formula

I= 4000x 0.02x 6

=$480

In the first six years, charlie will be paid $480 as interest.

I hope you understand this, please mark as brainliest answer.

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whyvanok20
whyvanok20 whyvanok20
  • 11-03-2020
480 will be the answer
Answer Link

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