SOLUTION: Tony deposits$6000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 6 years?

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Question 579408: Tony deposits$6000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 6 years?


Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
Tony deposits$6000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 6 years?
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i = prt
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i = 6000*0.02*6
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i = $720
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Cheers,
Stan H.