charlene invested $4000 at 5% simple interest for 6 years. part 1 of 2 (a) how much interest will she earn…
charlene invested $4000 at 5% simple interest for 6 years. part 1 of 2 (a) how much interest will she earn in 6 years? charlene will earn $1200 in interest. part: 1 / 2 part 2 of 2 (b) what will be the total value of the account after 6 years? the account will be worth $ in 6 years.
Answer
Explanation:
Step1: Recall simple - interest formula for total value
The formula for the total value $A$ of an account with simple interest is $A = P+I$, where $P$ is the principal amount and $I$ is the interest.
Step2: Identify given values
We know that $P = 4000$ (principal amount) and from part (a), $I = 1200$ (interest earned).
Step3: Calculate total value
$A=P + I=4000+1200$. $A = 5200$.
Answer:
5200