Math

Scott deposits $400 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 2 years?

  1. 👍 0
  2. 👎 0
  3. 👁 224
asked by Casi Danielle'

  1. I = PRT

    I = 400 * 0.06 * 2

    1. 👍 0
    2. 👎 0
    👩‍🏫
    Ms. Sue

  2. I=48

    1. 👍 0
    2. 👎 0
    posted by Vishal

  3. 48

    1. 👍 0
    2. 👎 0
    posted by Anonymous

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    Lisa deposits $3000 in an account that pays 2% simple interest, and $4000 in a second account which has a higher interest rate but is more risky. What minimum interest rate must she get on the second account in order to earn at

    asked by Kenny on August 4, 2016

  2. Math

    Deborah deposits $200 into an account that pays simple interest at the rate of 7%. How much will she have at the end of 4 months? a) Present Value with simple interest b) Future Value with simple interest c) Future Value with

    asked by Chad on November 4, 2017

  3. College alerbra

    Scott invested a total of $9500 at two separate banks. One bank pays simple interest of 11% per year while the other pays simple interest at a rate of 9% per year. If Scott earned $973.00 in interest during a single year, how much

    asked by Matt on November 23, 2013

  4. algerbra

    Donna deposits into an account that pays simple interest at a rate of 5% per year. How much interest will she be paid in the first 6 years?

    asked by dani on April 23, 2012

  5. MATH

    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?

    asked by AMBER on December 7, 2010

  6. Math

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

    asked by Becca on February 26, 2010

  7. math

    Tom deposits $800 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 2 years?

    asked by maria on October 11, 2017

  8. Math

    Heather deposits $3000 into an account that pays simple interest at a rate of 2% per year. How much interest will she be paid in the first 3 years?

    asked by Tiera on April 21, 2013

  9. Mathematics

    Tom deposits $800 into an account that pays simple interest at a rate of 2℅ per year. How much interest will he be paid in the first 2 years

    asked by Rebecca on December 5, 2016

  10. math

    Ben deposits $400 into an account that earns 5% interest compounded annually. Sam deposits the same amount into an account that earns 5% simple interest. Compare the account balances after 2 years.

    asked by mike on September 18, 2016

More Similar Questions