Question

Heather invested $11,600 in an account that pays 5% simple interest. If she invests the money for 6 years, how much will she have?
The total amount in the account after 6 years is $______?

Answer 1

Answer

$15080

Step-by-step explanation:

ok so i havent done these in a while but basically.

First, we need to find out what the 6% is.

$\frac{5}{100} \times \frac{11600}{1}$

5/100 because it's PERCENT, and well we need to put the 11600 out of 1.

Wich gives us

$580. THen, we multiply that by 6, (6 years). Which gives us

$3480. Now, we add that to the $11600. WHich gives us

$15,080.

Hope this helps!

Answer 2

The amount she will receive after 6 years
=$11600*(1+5%*6)
=$11600*1.3
=$15080