How much interest is earned on $300 at 6% for 6 years?

Question

asked Feb 22, 2021 115k views

2 Answers

HongSec Park · Answer 1 · 2021-02-27T04:58:16+0000

Answer:

108 dollars

Explanation:

First, let's convert 6% to a decimal.

We get 0.06 because we multiplied (or divided by 100) it by 1/100.

Now, let's do 0.06 * 300 to get interest on one year. This equals to 18$

Let's now do 18 * 6 to get

108 dollars