Leila deposits $400 into an account that pays simple interest at a rate of 2% per year. How much interest will she be paid in the first 2 years?

Question

anonymous · Answer

Simple interest = Principle (initial deposit) * Interest rate * Number of interest intervals. 

So what do you think it'll be? You try it out using the formula.

anonymous · Answer

idk $320 ?

anonymous · Answer

WAY off. 
Can you backtrack and tell me how you got there, maybe I can see where you went wrong and help you get the right answer?