Answer:
The amount of money we will have after the investment will be $ 4,800.
Step-by-step explanation:
Simple interest is the system of calculation in which the interests generated by a capital are not capitalized, that is, when the interests are withdrawn separately and they do not accumulate in the capital that produced them. In other words, in the simple interest calculation the interest is not productive and it must always resort to the initial capital contributed.
Therefore, if the initial capital is $ 3,000 and the interest rate is 6% with a duration of 10 years, we must calculate this percentage and multiply it by 10 to obtain the sum of money that we will have at the end of the investment:
3,000 x 6/100 = 180
180 x 10 = 1,800
3,000 + 1,800 = 4,800
As we can see, the amount of money we will have after the investment will be $ 4,800.