Question

A bank offers a 6% annual interest rate for a savings account. Marcus puts $8,000 into an account to save for college. How much will be in the account after a year?

Answer 1

`\bf \qquad \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \$8000\\ r=rate\to 6\%\to (6)/(100)\to &0.06\\ t=years\to &1 \end{cases}`

Answer 2

The answer is 8480

hope that helped