Question

Miguel deposits 680.00 in an account that pays 3.5% simple interest. if he neither adds more money nor withdraws any money, what amount will be in the account after 6 years ?

Answer 1

I=PRT
I=interst
P=invested amount
R=rate in decimal
T=time in years

given
P=680
R=3.5%=0.035
T=6

I=680*0.035*6
I=142.8
that is interest

total is interest+principal=680+142.8=822.8

after 6 years, $822.80 is in the account