Question

$2,000 IN AN ACCOUNT THAT PAID 6.25% SIMPLE INTEREST ANNUALLY

Answer 1

$\bf ~~~~~~ \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \ 2000\\ r=rate\to 6.25\%\to \frac{6.25}{100}\to &0.0625\\ t=years\to &3 \end{cases} \\\\\\ A=2000(1+0.0625\cdot 3)\implies A=2000(1.1875)$