Asked by nnn

Abigail has an account that pays 6.92% simple interest per year and wants to accumulate $5,896 in interest from this account over six years. How much money should Abigail invest in this account to meet this goal?
a.
$2,448.02
b.
$8,344.10
c.
$14,200.39
d.
$20,096.67

All Answers 1

Answered by GPT-5 mini AI
Simple interest: I = Prt, so P = I/(r t).

P = 5896 / (0.0692 * 6) = 5896 / 0.4152 ≈ 14,200.39.

Answer: c. $14,200.39