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Sagot :
$133.07
Explanation
Step 1
get the earned interest for 6 years
[tex]I=\text{PRT}[/tex]where I is the interest money created
P is the principal sarting amount of money
R is the rate per year(in decimal form)
T is the time,in years
then,let
P=$6000
R=3.75%=3.75/100=0.0375
time=t=6 years
now, replace.
[tex]\begin{gathered} I=\text{PRT} \\ I=\text{\$}6000\cdot0.0375\cdot6\text{ } \\ I=1350 \end{gathered}[/tex]It means Calos earned $1350 in the accoun with simple interest
Step 2
compound interest formula is given by
[tex]A=P(1+r)^t[/tex]then, let
A= the amount after 6 years
P=6000
r=0.0375
t=6
replace,
[tex]\begin{gathered} A=P(1+r)^t \\ A=6000(1+0.0375)^6 \\ A=7483.07 \end{gathered}[/tex]to know, the money he earne do a subtraction
[tex]\begin{gathered} I=7483.07-6000 \\ I=1483.07 \end{gathered}[/tex]Step 3
finally, to know How much more interest would the account have earned if it had earned compound interest instead of simple interest do a subtraction
[tex]\begin{gathered} \text{Answer}=1483.07-1350 \\ \text{Answer}=133.07 \end{gathered}[/tex]so, the answer is $133.07
I hope this helps you
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