Randy puts $3000 into a savings account that earns 6% simple interest annually. After six years, how much money will Randy have total in his account?
1 answer:
Answer:
$4080
Step-by-step explanation:
Step one:
given data
principal= $3000
rate = 6%= 0.06
time = 6 years
Required
The total amount in the account after 6 years
Step two:
We know that the final amount on a simple interest investment is computed using
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