Answer:
$902.18
Explanation:
AFTER 1ST YEAR
Simple Interest = (Principal x Rate x Time) ÷ 100
= (600 x 6 x 1) ÷ 100
= 3600 ÷ 100
= $36
Amount after 1st year = $600 + $36 = $636
AFTER 2ND YEAR
Simple Interest = (Principal x Rate x Time) ÷ 100
= (636 x 6 x 1) ÷ 100
= 3816 ÷ 100
= $38.16
Amount after 2nd year = $636 + $38.16 = $674.16
AFTER 3RD YEAR
Simple Interest = (Principal x Rate x Time) ÷ 100
= (674.16 x 6 x 1) ÷ 100
= 4044.96 ÷ 100
= $40.4496
Amount after 3rd year = $674.16 + $40.4496 = $714.6096
AFTER 4TH YEAR
Simple Interest = (Principal x Rate x Time) ÷ 100
= (714.6096 x 6 x 1) ÷ 100
= 4287.6576 ÷ 100
= $42.876576
Amount after 4th year = $714.6096 + $42.876576 = $757.486176
AFTER 5TH YEAR
Simple Interest = (Principal x Rate x Time) ÷ 100
= (757.486176 x 6 x 1) ÷ 100
= 4544.917056 ÷ 100
= $45.44917056
Amount after 5th year = $757.486176 + $45.44917056 = $802.93534656
AFTER 6TH YEAR
Simple Interest = (Principal x Rate x Time) ÷ 100
= (802.93534656 x 6 x 1) ÷ 100
= 4817.61207936 ÷ 100
= $48.1761207936
Amount after 6th year = $802.93534656 + $48.1761207936 = $851.1114673536
AFTER 7TH YEAR
Simple Interest = (Principal x Rate x Time) ÷ 100
= (851.1114673536 x 6 x 1) ÷ 100
= 5106.6688041216 ÷ 100
= $51.066688041216
Amount after 7th year = $851.1114673536 + $51.066688041216 = $902.178155394816
Approximately $902.18