Maya deposits $200 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 4 years?

Answer 1

Maya deposits $200 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 4 years?

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Use the Simple Interest Formula shown below

Simple Interest Formula

I = Prt

I = ($200) (.06) (4) = $48