Enrique’s parents want to save for his education. on his 12th birthday, they deposit $6,000 in a savings account that pays 5% simple annual interest. what will the balance be when he turns 18?
a. $1,800
b. $3,000
c. $7,800
d. $9,800

C.

Step-by-step explanation:

Multiply 6,000 by .05, which is 5% in decimal form. This will come up as $300.

Since this is an annual rate, this is how much is added to the original $6,000 just for one year.

Meaning that he'll have 6,300 by the time he's 13, 6,600 when he's 14, and so on.

Add 300 to itself six times, the amount of years between his 12th birthday and his 18th birthday, and then add that to 6,000.

It should come up to be $7,800.