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John deposits 4000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 5 years HELPPPP FAST please!!!!!

John deposits 4000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 5 years HELPPPP FAST please!!!!!
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2 votes
John deposits 4000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 5 years

HELPPPP
FAST
please!!!!!

asked
User OregonGhost
by
8.3k points

1 Answer

5 votes
2% per year
5 years
5 * 2 = 10 (10%)
4000 * .10 = 400 ($400 in the first 5 years)
answered
User Slavik Meltser
by
8.0k points
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