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Layla deposit $600 into an account that pays simplest interest at a rate of 2% per year how much interest will she be paid in the first three years

Respuesta :

Hello! To calculate compound interest, we must use the formula below, where:

• P = principal

,

• R = rate/100

,

• T = time

[tex]\begin{gathered} SI=P\cdot R\cdot T \\ SI=600\cdot0.02\cdot3 \\ SI=36 \end{gathered}[/tex]

So, in the first three years, she will receive $36.