SOLUTION: You invest $6000 in an account that pays simple interest of 4% for 1 year. Calculate the amount of interest you'll have at the end of the indicated period.

Algebra ->  Finance -> SOLUTION: You invest $6000 in an account that pays simple interest of 4% for 1 year. Calculate the amount of interest you'll have at the end of the indicated period.      Log On


   

Question 1035806: You invest $6000 in an account that pays simple interest of 4% for 1 year. Calculate the amount of interest you'll have at the end of the indicated period.
Answer by jorel555(1290) About Me  (Show Source):
You can put this solution on YOUR website!
$6000 * .04 (or 4%)=$240 simple interest at the end of one year!!!!!!!!