Carmen deposits into an account that pays simple interest at a rate of per year. How much interest will she be paid in the first years?
deposit = ??
rate = ???
???
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To calculate the interest, we need to know the principal amount and the time period. The formula for simple interest is:
Interest = (Principal amount) × (Interest rate) × (Time period)
However, you haven't provided the principal amount or the interest rate. Could you please provide these details?
To calculate the interest amount, we need to know the principal amount deposited by Carmen and the interest rate of the account. The interest is calculated using the formula:
Interest = Principal * Rate * Time
In this case, we are given the interest rate and the time period. However, we need the principal amount to calculate the interest.
Could you please provide the principal amount deposited by Carmen?