An electrician’s savings account had $6,000 when he opened the account. His account had a simple interest rate of 7% for the past 4 years. What is his current account balance?

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of