Diane deposits $6000 into an account that pays simple intrest ata a rate of 3% per yr. how much intrest will she be paid in the first 6 yrs?

Question

anonymous · Answer

From About.com: When you know the principal amount, the rate and the time. The amount of interest can be calculated by using the formula: 
I = Prt

So for you, I = 6000 * .03 * 6 = 1080, or $1,080

anonymous · Answer

I think the answer is $1080    6,000 * .03(interest rate) = 180    180 * 6(years) = $1,080