To calculate the total amount Rhianna will have in her savings account after 8 months, we can use the formula for simple interest:
\[ i = prt \]
Where:
- \( p \) is the principal amount (the initial amount of money),
- \( r \) is the annual interest rate in decimal form,
- \( t \) is the time in years,
- \( i \) is the interest earned.
Given:
- \( p = 83,350 \)
- \( r = 6% = 0.06 \)
- \( t = \frac{8}{12} = \frac{2}{3} \) years (since 8 months is two-thirds of a year)
First, we will calculate the interest \( i \):
\[ i = 83,350 \times 0.06 \times \frac{2}{3} \]
Calculating this step-by-step:
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Calculate \( 0.06 \times \frac{2}{3} \):
\[ 0.06 \times \frac{2}{3} = 0.06 \times 0.6667 \approx 0.04 \]
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Now calculate the interest \( i \):
\[ i = 83,350 \times 0.04 = 3,334 \]
Now we will find the total amount in the account after 8 months by adding the interest earned to the principal:
\[ \text{Total Amount} = p + i = 83,350 + 3,334 = 86,684 \]
Thus, Rhianna will have a total of \( \text{$86,684.00} \) after 8 months.