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2 April, 17:18

Maya deposited $3000 onto an account that pays simple interest at a rate of 6% per year. How much interest will she be paid the first four years?

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  1. 2 April, 17:35
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    Total Balance: $3720

    Interest Paid: $720

    Step-by-step explanation:

    $3000 balance

    0.06 = 6% per year

    $3000 * 0.06 = $180 per year

    $180 * 4 years = $720 Interest after 4 years

    $3720 balance after 4 years
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