Question

Devon invests $9,000 in a savings account that pays 1.5% simple interest. How much will be in the account after 6 years if Devon makes no withdrawals or deposits to the account?

Answer 1

Devon will have $9,810 in the account after 6 years.

Step-by-step explanation:

To calculate the amount Devon will have in the account after 6 years, we can use the simple interest formula:

Interest = Principal * Rate * Time

Given that Devon invests $9,000 at a rate of 1.5% for 6 years, we can calculate the interest:

Interest = $9,000 * 0.015 * 6 = $810

To find the total amount in the account, we add the interest to the principal:

Total amount = Principal + Interest = $9,000 + $810 = $9,810

Answer 2

$810 because if you use the simple interest formula (s=p*r*t), you get $810 hope this helped!