SOLUTION: You deposit $1640 in a savings account paying 3% simple interest. How much interest will you earn in 6 years? How much is in the account at the end of 6 years?

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Question 1148448: You deposit $1640 in a savings account paying 3% simple interest.
How much interest will you earn in 6 years?


How much is in the account at the end of 6 years?
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
I=prt
=1640*0.03*6
=1640*0.18=$295.20 interest
add to original principal to get
$1935.20, the amount in the account.