Rashawn puts $550 in an account earning 8% simple interest annually.

How much will he have in his account after 6 years?
A.$186
B.$264
C.$736
D.$814

To calculate the amount in Rashawn's account after 6 years with simple interest, we can use the formula for simple interest:

\[
A = P(1 + rt)
\]

Where:
- $A$ is the total amount after interest.
- $P$ is the principal (initial amount), which is $550.
- $r$ is the annual interest rate (in decimal form), which is 8%, or 0.08.
- $t$ is the time in years, which is 6 years.

Now, substitute the values into the formula:

\[
A = 550(1 + (0.08 \times 6))
\]
\[
A = 550(1 + 0.48)
\]
\[
A = 550 \times 1.48
\]
\[
A = 814
\]

So, Rashawn will have **$814** in his account after 6 years.

The correct answer is **D. $814**.

Would you like more details, or do you have any other questions?

Here are 5 related questions for further practice:
1. How much interest did Rashawn earn over the 6 years?
2. What would the total amount be if the interest rate were 10% instead of 8%?
3. How much would Rashawn have after 3 years at the same rate?
4. If the principal were $600 instead of $550, how much would Rashawn have after 6 years at 8% interest?
5. What is the difference between simple and compound interest in such scenarios?

**Tip:** Simple interest grows at a constant rate, while compound interest increases faster over time because the interest is earned on the interest.

Rashawn puts $550 in an account earning 8% simple interest annually. How much will he have in his account after 6 years? A.$186 B.$264 C.$736 D.$814

Learn how to calculate simple interest using the formula A = P(1 + rt). In this example, Rashawn invests $550 at 8% annual interest for 6 years, resulting in a total of $814. Suitable for Grades 6-8.

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