Ditbert invests \( \$ 20,000 \) at \( 3 \% \) simple interest for 1 year. How much is in the account at the end of the 1 year period? Answer: \( \$ \)

To calculate the amount in Ditbert's account after 1 year with simple interest, you can use the formula: \[ \text{Total Amount} = P + (P \times r \times t) \] Where: - \( P \) = Principal amount (\$20,000) - \( r \) = Annual interest rate (3% or 0.03) - \( t \) = Time in years (1 year) Plugging in the values: \[ \text{Interest} = 20,000 \times 0.03 \times 1 = 600 \] \[ \text{Total Amount} = 20,000 + 600 = 20,600 \] **Answer:** \$20,600