SOLUTION: Chau deposits $2000 into an account that pays simple interest at a rate of 3% per year. How much interest will he be paid in the first 6 years? $

SOLUTION: Chau deposits $2000 into an account that pays simple interest at a rate of 3% per year. How much interest will he be paid in the first 6 years? $

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Question 1175472: Chau deposits $2000 into an account that pays simple interest at a rate of 3% per year. How much interest will he be paid in the first 6 years? $
Answer by ikleyn(52776) (Show Source): You can put this solution on YOUR website!
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Simple interest  I = 2000*0.03*6 = 360  dollars.

Solved.

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To see many other similar simple interest problems solved, look into the lesson
- Simple interest percentage problems
in this site.

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