Question
you invest $4000 in an account that pays simple interest of 6% for 30 years. calculate the amount of money you'll have at the end of the indicated time period.
Answers
Ms. Sue
I = PRT
I = 4,000 * 0.06 * 30
Add the interest to the principal.
I = 4,000 * 0.06 * 30
Add the interest to the principal.
Anonymous
720
Anonymous
7200
Jessica
interest= 7200
7200 + 4000 = 11,200
11,200 will be your total
7200 + 4000 = 11,200
11,200 will be your total
Amy
Karen deposits $2000 into an account that pays simple interest at a rate 4% per year how much interest will she be paid in the first 5 years?