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23 votes
23 votes
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 $______?

User Erik Anderson
by
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2 Answers

29 votes
29 votes

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.


(5)/(100) * (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!

User Kamui
by
3.4k points
19 votes
19 votes
The amount she will receive after 6 years
=$11600*(1+5%*6)
=$11600*1.3
=$15080
User Dncrane
by
2.9k points