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Setler79 [48]
2 years ago
12

Which choice best represents the balance of a savings account at the end of 6 years if the simple interest earned each year is 6

.5% and the principal is $1,300?
Mathematics
1 answer:
Amiraneli [1.4K]2 years ago
4 0

Answer:

$507.00.

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 6.5%/100 = 0.065 per year,

then, solving our equation

I = 1300 × 0.065 × 6 = 507

I = $ 507.00

The simple interest accumulated

on a principal of $ 1,300.00

at a rate of 6.5% per year

for 6 years is $ 507.00.

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