SOLUTION: Find the amount that will be accumulated. a principal of $6000 is accumulated with simple interest of 12% for 1 year

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Question 309807: Find the amount that will be accumulated.
a principal of $6000 is accumulated with simple interest of 12% for 1 year
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
Amount accumalated = Principal + simple interest
Simple interest = p*t*r
p= 6000
r= 12%
t=1

6000 * 1* 0.12
= 720
720 + 6000 = 6720
Amount accumalated = $6720 at the end of one year.