Jose deposits S300 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the
first 3 years?
2 answers:
Answer:
$54
Step-by-step explanation:
300 times 0.06 times 3
0.06 times 3 = 0.18
300 times 0.18 = 54
The simple interest is $54
Answer:
$54
Step-by-step explanation:
A = P(1 + rt)
300(1 + (0.06 × 3)) = 354
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