hylankn57stu hylankn57stu

19-03-2021
Mathematics

contestada

laura deposits $2000 into an account that pays simple interest at a rate of 2% per year. How much interest will she be paid in the first 6 years?

Respuesta :

waxingmoon01 waxingmoon01

19-03-2021

She will be paid $2,240.

The equation to use for this is: A=P(1+rt)

More specifically:
A = 2000(1 + (0.02 × 6)) = 2240
A = $2,240.00

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