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jok3333 [9.3K]
3 years ago
13

Hans deposits $6000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the

first 4 years?
Mathematics
1 answer:
SpyIntel [72]3 years ago
3 0

Answer:

Hans deposits $6000 into an account.

=> Principal P = 6000

Simple interest rate 5% per year.

=> Rate R = 5% = 5/100 = 0.05

The formula to calculate the amount of interest after 4 years:

A = P x R x years = 6000 x (5/100) x 4 = 1200$

Hope this helps!

:)

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