SOLUTION: Ann deposits $6000 into an account that pays simple interest at a rate of 4% per year. How much interest will she be paid in the first 2 years?

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Question 1085410: Ann deposits
$6000
into an account that pays simple interest at a rate of
4%
per year. How much interest will she be paid in the first
2
years?

Found 2 solutions by Boreal, MathTherapy:
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
P=Po(1=r)^t
=6000*(1.04)^2=6489.60
$489.60, after subtracting the initial principal.

Answer by MathTherapy(10552) About Me  (Show Source):
You can put this solution on YOUR website!

Ann deposits
$6000
into an account that pays simple interest at a rate of
4%
per year. How much interest will she be paid in the first
2
years?
Duplicate. See: Money_Word_Problems/1085411.