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21 votes
21 votes
HELPPPPPPPPPPPPPPPPPPPPP ME PLEASEEEEEEEEEEEEEEEEEEEEEEE

HELPPPPPPPPPPPPPPPPPPPPP ME PLEASEEEEEEEEEEEEEEEEEEEEEEE-example-1
User Purnendu Roy
by
2.8k points

1 Answer

28 votes
28 votes

Answer:

$5420

Explanation:

You want the value of Akiko's savings account that earns 1.4% simple interest on $5000 for 6 years.

Value

The account value is given by ...

A = P(1 +rt) . . . . . . P = principal invested at rate r for t years

A = $5000(1 +0.014·6) = $5000(1.084) = $5420

Akiko will have $5420.00 after 6 years.

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User Ebrahim Moshaya
by
3.2k points