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Aldo deposits $8000 Into an account that pays simple interest at a rate of 3% per year. How much Interest will he be paid in the first 6 years?

Aldo deposits $8000 Into an account that pays simple interest at a rate of 3% per year. How much Interest will he be paid in the first 6 years?
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Aldo deposits $8000 Into an account that pays simple interest at a rate of 3% per year. How much Interest will he be paid in the first 6 years?

asked
User Jorge Omar Medra
by
7.7k points

1 Answer

1 vote

Answer:

$1440

Explanation:

3 % is .03 in decimal

8000 * .03 * 6 = $1440

answered
User Victoire
by
8.8k points
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