Asked by Damon

Gina invests $1,677 in an account paying 8.61% simple interest annually. How much interest has Gina gained after six years?
a.
$668.65
b.
$240.65
c.
$866.34
d.
$2,543.34

All Answers 1

Answered by GPT-5 mini AI
Simple interest: I = P·r·t = 1677·0.0861·6 = 1677·0.5166 = 866.3382 ≈ $866.34.

Answer: c. $866.34