Debra deposits $800 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?
To calculate the interest, we can use the formula: Interest = Principal * Rate * Time.
In this case, the principal is $800, the rate is 5% (or 0.05 as a decimal), and the time is 6 years.
So, the interest earned will be:
Interest = $800 * 0.05 * 6
Interest = $<<800*0.05*6=240>>240
Therefore, Debra will be paid $240 in interest over the first 6 years.