Answer:
Step-by-step explanation:
The formula for determining simple interest is expressed as
I = PRT/100
Where
I represents interest paid on the loan.
P represents the principal or amount of money deposited.
R represents interest rate
T represents the duration in years.
From the information given,
P = 6000
R = 2%
T = 5 years
I = (6000 × 2 × 5)/100 = $600,
Therefore, her new account balance would be
6000 + 600 = $6600
