Solution

Hong deposits 3000 into an account that pays simple interest at a rate of 6% per year. How much interest will he be paid in the first 3 years?

Solution

Solution steps
Translate the problem into an equation:
Simplify

Popular Examples

2100 dollars is placed in an account with an annual interest rate of 6%. To the nearest tenth of a year, how long will it take for the account value to reach 9400 dollars?Kamal and Nora deposit 10,000.00 into a savings account which earns 5% interest compounded monthly. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend?What is the result when the number 82 is increased by 50%?If two dices are thrown together, what is the probability of getting an even number on one dice and an odd number on the other dice?A toy ball can be mode ofled as a sphere. Josiah measures its radius as 10.9 cm. Find the ball’s volume in cubic centimeters. Round your answer to the nearest tenth if necessary.