Answer :
To find the amount in the account you need to find the monthly interest and times it by the number of months since the benefactor opened the account.
Monthly interest:
to find 6% you must use the proportions:
$20,000/100% = X/6%
then cross multiply,
X= (20,000 x 6)/100 = 1200
this number is your monthly interest.
Months
Now we have to find the months in 19 years:
12 x 19 = 228
times 12 because we know that a year has 12 months and we have 19 years so we must multiply those two.
Total amount:
$1200 (monthly interest rate) x 228 (months) = $273, 600
Monthly interest:
to find 6% you must use the proportions:
$20,000/100% = X/6%
then cross multiply,
X= (20,000 x 6)/100 = 1200
this number is your monthly interest.
Months
Now we have to find the months in 19 years:
12 x 19 = 228
times 12 because we know that a year has 12 months and we have 19 years so we must multiply those two.
Total amount:
$1200 (monthly interest rate) x 228 (months) = $273, 600