Given:
Pricipal P = %1340.
The rate of interest r = 6% = 0.06.
The numver of years t =3.
The formula to find the amount by simple interest is
[tex]A=P(1+_{}\text{rt)}[/tex]Substitute P=1340, r=0.06, and t=3 in the formula, we get
[tex]A=1340(1+0.06\times3)[/tex][tex]A=1581.2[/tex]The balance in the account after 3 years is $ 1581.20.
