On April 1, 2015, Faircloud Variety Company deposited $24 000 into a savings account earning simple interest

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On April 1, 2015, Faircloud Variety Company deposited $24 000 into a savings account earning simple interest of 1.5%. Interest is paid to the account at the end of every calendar quarter. How much interest was paid to Faircloud’s account on June 30, 2015?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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