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Q: 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?
A: I=Prt I=6000*.05*6 I=1800 The interest of \$1,800 added to the initial investment (Principal) of \$6,000 equals \$7,800. The balance when he turns 18 will be \$7,800.
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User: 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?

Weegy: \$3000
Expert answered|aiatok|Points 222|

Question
Asked 7/18/2012 9:25:22 AM
Updated 7/18/2012 12:00:31 PM
1 Answer/Comment
This conversation has been flagged as incorrect.
Flagged by debnjerry
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I=Prt
I=6000*.05*6
I=1800

The interest of \$1,800 added to the initial investment (Principal) of \$6,000 equals \$7,800. The balance when he turns 18 will be \$7,800.
Added 7/18/2012 12:00:31 PM
This answer has been confirmed as correct and helpful.
Confirmed by andrewpallarca [3/23/2014 7:54:03 AM]
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