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answer:

tyler's $1,000 investment will be worth $1,240 after 6 years, invested at 4% interest rate.

the problem gives the following relevant data:

principal = $1000

interest rate = 4% simple interest

term or time period = 6 years

since simple interest is given, we need to use the simple interest formula;

i = p x r x t

where: p is the principal, r is the interest rate, and t is the time the money will be invested.

i = $1000 x 4% x 6yrs

i = $1000 x 0.04 x 6

i = 40 x 6

i = 240   ==> interest earned after 6 years is $240.

total investment = principal + interest

t.i. = $1,000 + $240

t.i. = $1,240   ==> the value of tyler's investment after 6 years.

explanation:

answer:

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Explanation: