Nicole deposits $600 into an account that pays simple interest at a rate of 3% per year. How much interest will she be paid in t

Question

stealth61 [152]

2 years ago

10

Nicole deposits $600 into an account that pays simple interest at a rate of 3% per year. How much interest will she be paid in t

he first 5 years?

Mathematics

2 answers:

irinina [24] · Answer 1 · 2023-05-08T15:28:10+03:00

irinina [24]2 years ago

4 0

Answer:

$80

Step-by-step explanation:

Did this question in class before ;D

alexgriva [62] · Answer 2 · 2023-05-08T13:22:33+03:00

alexgriva [62]2 years ago

3 0

Answer:

Donna will be paid

$

80

as interest.

Explanation:

S

I

=

P

×

R

×

T

100

Applying the formula for simple interest we get:

S

I

=

800

×

2

×

5

100

S

I

=

8

00

×

2

×

5

1

00

S

I

=

8

×

2

×

5

S

I

=

80

Step-by-step explanation: