Question

Tacy deposited $6900 into a savings account that earns 3.1% simple interest

each year, calculated annually. What will be the value of Tacy's account after
9 years?
O A. $1925.10
O B. $8825.10
Oc. $71,113.90
OD. $19,251.00
SUBMIT

Answer 1

$8825.10

Explanation:

Interest total= P x r x t

P = principal amount, or $6900

r= interest rate, or 0.031

t = time, or 9 years

6900 x 0.031 x 9 = 1925.10

You now add this to the original amount

6900 + 1925.10 = $8825.10