Teresa deposits $800 into an account that pays simple interest at a rate of 2% per year. How much interest will she be paid in t
he first 2 years?
1 answer:
Answer:
I'll setup the problem and you can do the computation
Step-by-step explanation:
The formula for simple interest:
I = P*r*t
I = interest
P = deposit
r = interest rate per period
t = number of periods
P = $800
r = 0.02
t = 2
If you have questions, send me a comment
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