Ask Question
17 May, 08:20

Tim invest $16,100 in an account that pays 6% interest per year for 5 years how much simple interest will he earn round your answer to the nearest Penny if necessary

+1
Answers (1)
  1. 17 May, 11:22
    0
    Simple interest for one year:

    $16100 x 0.06

    = $966

    Simple interest for five years:

    $966 x 5

    = $4830
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Tim invest $16,100 in an account that pays 6% interest per year for 5 years how much simple interest will he earn round your answer to the ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers