Answer:
A = $5,600.00
Step-by-step explanation:
Calculation:
First, converting R percent to r a decimal
r = R/100 = 6%/100 = 0.06 per year.
Solving our equation:
A = 5000[(1 + (0.06 × 2)] = 5600
A = $5,600.00
The total amount accrued, principal plus interest, from simple interest on a principal of $5,000.00 at a rate of 6% per year for 2 years is $5,600.00.
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