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Mia deposits $300 into an account that pays simple interest at a rate of 5% per year, how much interest would she be payed in the first 2 years?

Mia deposits $300 into an account that pays simple interest at a rate of 5% per year, how much interest would she be payed in the first 2 years?
asked 9.1k views
2 votes
Mia deposits $300 into an account that pays simple interest at a rate of 5% per year, how much interest would she be payed in the first 2 years?

asked
User Robpal
by
7.8k points

1 Answer

2 votes

Answer: $30

Explanation:

I=PRT

I= (300)(0.05)(2)

I= 15(2)

I= 30

answered
User Dave Pateral
by
7.9k points
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