SOLUTION: Kaitlin deposits $200 into an account that pays simple interest at a rate of 4% per year. How much interest will she be paid in the first 5 years?

SOLUTION: Kaitlin deposits $200 into an account that pays simple interest at a rate of 4% per year. How much interest will she be paid in the first 5 years?

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Question 954919: Kaitlin deposits $200 into an account that pays simple interest at a rate of 4% per year. How much interest will she be paid in the first 5 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I=200*0.04*5
I=40
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