Question

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?

Answer 1

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

Answer 2

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