karen deposits $300 into an account that pays simple interest at a rate of 5% per year. how much interest will she be paid in the first 4 years?

Question

Justice Curtis

Mathematics

15 December, 17:58

karen deposits $300 into an account that pays simple interest at a rate of 5% per year. how much interest will she be paid in the first 4 years?

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Answers (2)

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Carlee Todd · Answer 1

Karen will be payed $60 in interest in the first four years.

We can solve this problem by using the simple interest formula (Interest = Principal * Rate * Time)

Interest = 300 * 5/100 * 4

Interest = 60, meaning that Karen will be payed $60 in interest in the first four years.

Breanna Calhoun · Answer 2

60 dollars. you will use the formula I=PRT