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Scott deposits $3000 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 4 years?

Scott deposits $3000 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 4 years?
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4 votes
Scott deposits $3000 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 4 years?

asked
User Ishan Tiwary
by
8.0k points

1 Answer

3 votes
He will pay $3720 in 4 years time.

answered
User DerZyklop
by
8.3k points
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