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Answered

Jose deposits S300 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 3 years?

Answer :

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Answer:

$54

Step-by-step explanation:

300 times 0.06 times 3

0.06 times 3 = 0.18

300 times 0.18 = 54

The simple interest is $54

Answer:

$54

Step-by-step explanation:

A = P(1 + rt)

300(1 + (0.06 × 3)) = 354

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