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Select the correct answer.
How much would be earned on a $300 deposit earning 4% simple interest for 5 years?
O
$6.00
O
$12.00
O
$60.00
$66.30
Submit

Respuesta :

$60, because 4 percent of 300 is 12, and 12*5 years is $60 earned through interest.

The answer is 60.
Tundexi

The amount he would earn on the $300 deposit is $60

To derive the amount he would earn, we will employ the use Simple interest formula "S.I. = PRT*100" Where Principal = $300, Rate = 4% and Time = 5 years

Simple interest = $300 x 4 x 5/100

Simple interest = $6000 / 100

Simple interest = $60

In conclusion, the amount he would earn on the $300 deposit is $60

Learn more about simple interest here brainly.com/question/9352088

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