Rodriquez Rodriquez
12/07/2023 · Junior High School
To be able to take her dream vacation, Raina decides to save for 6 vears. She opens a savings account with \( \$ 300 \). The account pays simple interest at an annual rate of \( 5 \% \). She doesn't make any more deposits. Answer the following questions. If necessary, refer to the list of financial formulas, (a) How much total interest will Raina earn? \( \$ 7 \) (b) What will the total amount in the acceunt pe (inclucing interest)?
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Raina will earn a total interest of $90 and the total amount in her account after 6 years will be $390.
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