Answer: The interest that she will have at the end of 6 years is $2700
Explanation:
Chanelle deposits $7,500 and she does not withdraw or deposit money for 6 years. This means that the initial amount and the interest accrued was not altered in 6 years.
She ears 6% in interest. To determine the amount of interest that she would have at the end of 6 years. We will apply the simple interest formula.
I = PRT/100
Where
I = simple interest
P = principal
R = interest rate
T = number of time in years
From the information given
P= $7,500
R = 6
T = 6
I = (7500 × 6 × 6)/100
I = $2700