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Sagot :
Step-by-step explanation
Simple interest is:
[tex]s=P\times r\times t[/tex]Where P is the principal amount, r is the rate of the interest per year and t is the number of years.
In this problem we have P = $4000, r = 0.02 and t = 3
The interest after 3 years will be:
[tex]s=4000\times0.02\times3=240[/tex]Answer
Jim will be paid $240 of interest after 3 years
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