Ask your own question, for FREE!
Mathematics 17 Online
OpenStudy (anonymous):

jamie deposit $2000 in account that pays simple interest at a rate of 3% per year. how much interest will he pay in the first 2 years?

OpenStudy (anonymous):

All u have to do is.06 times 2000

OpenStudy (anonymous):

All you need to do is multiply 0.06 x 2000, because the interest for 1 year is 3%, which is the same as 0.03, so for 2 years, you double that, so It's 0.06.

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!