22-04-2020
Mathematics

contestada

Bob deposits $3000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 5 years?

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22-04-2020

Answer:

He will have paid 750 interest in the first five years.

Step-by-step explanation:

SI = P×R×T/100

3000 x 5 x 5 divided by 100

75000 / 100 = 750

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