a. tasha is putting money into a savings account with a compound interest rate of 4% per year. if she…

Answer:

$7621.44$

Explanation:

Step1: Identify the compound - interest formula

$A = P(1 + r)^t$ where $A$ is the amount of money accumulated after $n$ years, including interest, $P$ is the principal amount (the initial amount of money), $r$ is the annual interest rate (in decimal form), and $t$ is the time the money is invested for in years.

Step2: Convert the interest rate to decimal

$r=4%=0.04$

Step3: Identify the values of $P$ and $t$

$P = 6000$, $t = 6$

Step4: Substitute the values into the formula

$A=6000\times(1 + 0.04)^6$

Step5: Calculate $(1 + 0.04)^6$

$(1 + 0.04)^6=1.04^6\approx1.27016$

Step6: Calculate the final amount $A$

$A = 6000\times1.27016=7621.44$