Tom received a total of $$ \$ 6,450 $$ for his graduation. He would like to invest this in an online savings account that offers $$ 2.7 \% $$ simple interest. How much will Tom have in the account after 6 years? Round to the nearest cent. How much interest will he earn during this time? Round to the nearest cent.

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To find out how much Tom will have in the account after 6 years and the interest he will earn, we can use the formula for simple interest:

$$ \text{Simple Interest} = \text{Principal} \times \text{Rate} \times \text{Time} $$

Given:
- Principal (initial amount) = $6,450
- Rate (interest rate) = 2.7% = 0.027
- Time (years) = 6 years

Let's calculate the simple interest and the total amount in the account after 6 years.
Calculate the value by following steps:
- step0: Calculate:
  $$6450\times 0.027\times 6$$
- step1: Multiply the terms:
  $$174.15\times 6$$
- step2: Multiply the numbers:
  $$1044.9$$
The simple interest Tom will earn after 6 years is $1044.90.

To find the total amount in the account after 6 years, we add the principal and the simple interest:

Total Amount = Principal + Simple Interest

Total Amount = $6450 + $1044.90

Total Amount = $7494.90

Therefore, after 6 years, Tom will have $7494.90 in the account, and he will earn $1044.90 in interest.
After 6 years, Tom will have $7,494.90 in the account and earn $1,044.90 in interest.

Tom received a total of for his graduation. He would like to invest this in an online savings account
that offers simple interest. How much will Tom have in the account after 6 years? Round to the
nearest cent.
How much interest will he earn during this time? Round to the nearest cent.

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Tom received a total of for his graduation. He would like to invest this in an online savings account that offers simple interest. How much will Tom have in the account after 6 years? Round to the nearest cent. How much interest will he earn during this time? Round to the nearest cent.