Jairo currently has a balance of $6,785 in his checking account. He is required to keep
a minimum balance of $500 dollars. If he goes below the minimum required balance,
he will need to pay $75 fee. He deposits a $345 paycheck, a $60 refund check, and a
personal check for $150 into his checking account. Then, Jairo decides he wants to
open a savings account to earn some interest in his money. He uses $3,000 from his
checking account and transfers to a new savings account that will earn 6% interest for
the first 5 years. How much will he earn in interest in those 5 years?



Answer :