omgthisdude123 omgthisdude123
  • 07-12-2020
  • Mathematics
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Aldo deposits $700 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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devishri1977
devishri1977 devishri1977
  • 07-12-2020

Answer:

$84

Step-by-step explanation:

Principal = $700

r =2 % = 0.02

t = 6 years

Simple Interest = Prt

                         = 700 * 0.02 * 6

                         = $84

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