Abigail has an account that pays 6.92% simple interest per year and wants to accumulate $5,896 in interest from this account over six years. How much money should Abigail invest in this account to meet this goal?

For simple interest, use I = Prt, where I is the interest, P is the amount invested, r is the annual rate, and t is the time in years. Solving for P gives P = 5,896 ÷ (0.0692 × 6) = 5,896 ÷ 0.4152 ≈ $14,200.39. Abigail should invest about $14,200.39, which is choice C.

AI-written and checked against the verified answer.