Answer: There would be $507.39 in the account after 90 days.
Step-by-step explanation:
Since we have given that
Principal = $500
Rate of interest = 6%
Number of days = 90 days
As we know that "Simple interest":
[tex]Interest=\dfrac{P\times R\times T}{100}\\\\Interest=\dfrac{500\times 6\times 90}{100\times 365}\\\\Interest = \$7.39[/tex]
So, Amount = Principal + Interest
Amount = $500 + $ 7.39
Amount = $507.39
Hence, There would be $507.39 in the account after 90 days.
