Randy puts $3000 into a savings account that earns 6% simple interest annually. After six years, how much money will Randy have total in his account?

$4080

Step-by-step explanation:

Step one:

given data

principal= $3000

rate = 6%= 0.06

time = 6 years

Required

The total amount in the account after 6 years

Step two:

We know that the final amount on a simple interest investment is computed using

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step-by-step explanation:

$9.89

step-by-step explanation:

9.90 = p x .06 x .25 (3/12 changed to a decimal)

9.90 = p x 0.015

9.90 - 0.015 = p

9.89 = p