Enrique’s parents want to save for his education. On his 12th birthday, they deposit $6,000 in a savings account that pays 5% simple annual interest. What will the balance be when he turns 18?
I = PRT
I = 6,000 * 0.05 * 6
I = 1,800
Add the interest to the principal to find the balance.
To find the balance when Enrique turns 18, we need to calculate the total amount including the initial deposit and the interest earned over the 6 years.
The formula for calculating simple interest is:
Interest = Principal * Rate * Time
In this case:
Principal = $6,000 (initial deposit)
Rate = 5% (annual interest rate)
Time = 6 years
So, the interest earned on the initial deposit over 6 years is:
Interest = $6,000 * 0.05 * 6 = $1,800
To find the balance when Enrique turns 18, we need to add the interest to the initial deposit:
Balance = Initial deposit + Interest
= $6,000 + $1,800
= $7,800
Therefore, when Enrique turns 18, the balance in his savings account will be $7,800.
IIM FOOR YREAS OLD REEEEEEEEEEEEEEE
14.
A 9-foot long ladder is placed against the side of a building such that the top of the ladder reaches a window that is 6 feet above the ground. To the nearest tenth of a foot, what is the distance from the bottom of the ladder to the building