SOLUTION: Maya deposits $4000 into an account that pays simple interest at a rate of 3% per year. How much interest will she be paid in the first 6 years?

Question 961390: Maya deposits
$4000
into an account that pays simple interest at a rate of
3%
per year. How much interest will she be paid in the first
6
years?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Maya deposits
$4000
into an account that pays simple interest at a rate of
3%
per year. How much interest will she be paid in the first
6
years?
----
I = P*r*t
Interest = 4000*0.03*6 = 4000*0.18 = $720.00
------------
Cheers,
Stan H.
--------------
RELATED QUESTIONS
Isabel deposits $4000 into an account that pays simple interest at a rate of 4% per... (answered by rvfer)

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

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

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

Laura deposits $4000 into an account that pays simple interest at a rate of 5% per year.... (answered by TimothyLamb)

austin deposits 4000 into an account that pays simple interest at a rate of 4% per year.... (answered by mananth)

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)