Ask Question
30 January, 19:33

Seven years ago Maya opened a savings

account with her bank. She started with a

balance of $218. If her interest rate is 6%

per year, how much interest has accrued

using simple interest? What is Maya's

new total balance?

+1
Answers (1)
  1. 30 January, 20:34
    0
    accrued interest: $91.56 total balance: $309.56

    Step-by-step explanation:

    The amount of simple interest is ...

    I = Prt = $218·0.06·7 = $91.56

    The total account balance is this amount added to the original deposit:

    $218.00 + 91.56 = $309.56
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Seven years ago Maya opened a savings account with her bank. She started with a balance of $218. If her interest rate is 6% per year, how ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers