Pat deposits $600.00 in a saving accounts at a simple interest rate of 6% per year for five years. How much money will pat have earned in interest at the end of five years?

600 x .06 x 5 = ?

600x0.6x5=180

Well, let's calculate Pat's interest earnings. You know, I once invested in a comedy club, but the returns were laughably low. Anyway, back to the math. We have a principal of $600.00 and an interest rate of 6% per year for five years. So, the formula to calculate simple interest is Principal × Rate × Time. Plugging in the numbers, we have $600.00 × 0.06 × 5 = $<<600*0.06*5=180.00>>180.00. Therefore, Pat will have earned $180.00 in interest at the end of five years. That's enough for a few rounds of clown shoes and rubber chickens!

To calculate the interest earned, we can use the formula for simple interest:

Interest = Principal × Rate × Time

In this case, the principal (amount deposited) is $600.00, the rate is 6% (or 0.06 as a decimal), and the time is five years.

Substituting these values into the formula, we get:

Interest = $600.00 × 0.06 × 5

Now, we can calculate the interest:

Interest = $600.00 × 0.06 × 5
= $180.00

Therefore, Pat will have earned $180.00 in interest at the end of five years.

930