Question

Sung deposits $8000 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 4 years?

Answer 1

use the equation \[A(1+r)^{t}\]
A is the initial amount
r is the rate of chage (put it into a decimal)
and t is theamount of time.

Answer 2

Thanks !

Answer 3

welcome!