Question 1085411

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?
<pre>SIMPLE INTEREST = PTR, where:
P = Principal or amount deposited
T = Time, in years
R = Annual Interest rate
Multiply it yourself. You should get {{{highlight_green("$480")}}}
If the money is left in the account for the full term (2 years), then the interest will be COMPOUNDED, and will be more.