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To be able to buy a new computer, Keisha decides to save for 6 years. She opens a savings account with $600. The account pays simple interest at an annualrate of 3%. She doesn't make any more deposits.Answer the following questions. If necessary, refer to the list of financial formulas.x5?(a) How much total interest will Keisha earn?$0(b) What will the total amount in the account be including interest)?$Submit AssignmentContinue2022 McGraw Hill LLC. All Rights Reserved. Terms of Use | Privacy Center Accessibility3:47 AMM68°F MOOED »)5/19/2022-*O PiType here to searchFONumWoonPausePrisc

To be able to buy a new computer Keisha decides to save for 6 years She opens a savings account with 600 The account pays simple interest at an annualrate of 3 class=

Respuesta :

Given:

[tex]\begin{gathered} P=600 \\ R=3\% \\ T=6year \end{gathered}[/tex]

Required:

To find the total interest and the total amount in the account be including interest.

Explanation:

(a)

The total interest is

[tex]\begin{gathered} I=\frac{PTR}{100} \\ \\ =\frac{600\times6\times3}{100} \\ \\ =108 \end{gathered}[/tex]

(b)

The total amount in the account be including interest is

[tex]600+108=708[/tex]

Final Answer:

(a) The total interest is $108.

(b) The total amount in the account be including interest is $708.

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