Question 1118576
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At the beginning of the 7th year, the money has been in the account for 6 years.<br>
The simple interest on $3000 at 3.5% for 6 years is I = prt:<br>
{{{(3000)(.035)(6) = 630}}}<br>
The amount in the account at the beginning of the 7th year is then the original amount plus the interest $3630.