contestada

Ahmad deposits $3000 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 2 years

Respuesta :

Answer: $ 360

Step-by-step explanation:

Given

Initial deposit P( Principal)=[tex]\$\ 3000[/tex]

Rate of interest R=6%

Time T=2 years

We know in Simple Interest

[tex]S.I.=\frac{P\times R\times T}{100}[/tex]

Putting values

[tex]S.I.=\frac{3000\times 6\times 2}{100}=30\times 12\\S.I.=\$\ 360[/tex]

Otras preguntas