Answer:
Simple interest after 2 year = $36
Step-by-step explanation:
Given:
Amount invested = $300
Number of year amount invested = 2 year
Rate of interest per year = 6% = 6/100 = 0.06
Find:
Simple interest after 2 year
Computation:
Simple interest formula;
Simple interest = [Amount invested][Rate of interest][Number of year]
Simple interest after 2 year = [300][0.06][2]
Simple interest after 2 year = [18][2]
Simple interest after 2 year = $36
