Question

Rafael deposits $5000 into and account that pays simple interest at an annual 5%. He does not make anymore deposits. He makes no withdrawals until the end of 6 years when he withdraws all the money.

Answer the following questions.
A)How much total interest will Rafael earn?

B)What will the total amount in the account be(including interest)?

Answer 1

Explanation:

sorry idk

Answer 2

$6500

Explanation:

1.05 is Simple Interest of 5%

5000 times 1.05 equals 5250

5250 minus 5000 equals 250

250 times the 6 years is 1500

1500 plus 5000 is 6500