Question

Kala deposits $6000 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

Answer 1

She gets paid $360

Because 6000 (1+(0.02*3))
6000 (1+0.06)
6000(1.06)
6,360
6,360-6000=360

So she will get paid 360 after 3 years