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Sagot :
The amount in Jay's account after 6 years is $357.20.
Given that, the principal=$285, time period=6 years and rate of interest =1.9%.
We need to find the amount in Jay's account after 6 years.
How to calculate the compound interest?
Compound interest, or 'interest on interest', is calculated using the compound interest formula. The formula for compound interest is [tex]A=P(1+\frac{r}{100} )^{nt}[/tex], where P is the principal balance, r is the interest rate, n is the number of times interest is compounded per time period and t is the number of time periods.
Now, [tex]A=285(1+\frac{1.9}{100} )^{6}=285(1.019)^{6}[/tex]
=285×1.1195=$357.20
Therefore, the amount in Jay's account after 6 years is $357.20.
To learn more about compound interest visit:
https://brainly.com/question/26457073.
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