Question

Laura deposit $3000 into an account that pays simple interest at a rate of 2% per year how much interest will she be payed for the first 6 years

Answer 1

Answer:

$3,795.96

Step-by-step explanation:

Base amount: $3,000.00

Interest Rate: 4% (yearly)

Effective Annual Rate: 4%

Calculation period: 6 years