Answer :
Kodex, this is the solution:
Principal = $ 700
Interest rate = 9% = 0.09
Term = 6 years
Let's calculate the interest, using the simple interest formula, as follows:
Interest = Principal * (Interest rate * Term)
Replacing by the values given to us, we have:
Interest = 700 * (0.09 * 6)
Interest = 700 * 0.54
Interest = 378
After 6 years, Kim will earn $ 378 of interest.