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Milan deposits $4000 in an account that pays simple interest at a rate of 5% per year. how much interest will he be paid in the first 3 years

Milan deposits $4000 in an account that pays simple interest at a rate of 5% per year. how much interest will he be paid in the first 3 years
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2 votes
Milan deposits $4000 in an account that pays simple interest at a rate of 5% per year. how much interest will he be paid in the first 3 years

asked
User Ithar
by
8.2k points

1 Answer

5 votes
I=prt
I=4,000×0.05×3
I=600
answered
User Kalpesh Lakhani
by
8.0k points
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