SOLUTION: Ryan deposits $300 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 4 years?

SOLUTION: Ryan deposits $300 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 4 years?

Algebra.Com

Question 925689: Ryan deposits
$300
into an account that pays simple interest at a rate of
6%
per year. How much interest will he be paid in the first
4
years?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
I = Prt
I = $300(.06/yr)(4yr) = $72
RELATED QUESTIONS
Ryan deposits $300 into an account that pays simple interest at a rate of 4% per... (answered by fractalier)

Greg deposits into an account that pays simple interest at a rate of per year. How much... (answered by Alan3354)

Rueben deposits into an account that pays simple interest at a rate of per year. How... (answered by JulietG)

Bob deposits into an account that pays simple interest at a rate of per year. How much... (answered by JulietG)

Karen deposits $300 into an account that pays simple interest at a rate of 6% per year.... (answered by Kelly625)

Karen deposits into an account that pays simple interest at a rate of per year. How... (answered by checkley79)

Jane deposits $400 into an account that pays simple interest at a rate of 3% per year.... (answered by ewatrrr)

Isabel deposits $4000 into an account that pays simple interest at a rate of 4% per... (answered by rvfer)

Ivanna deposits into an account that pays simple interest at a rate of per year. How... (answered by JulietG)