Suppose you invest $3000 in a savings account that pays an APR of 6%. If the account pays simple interest, what is the balance in the account after 20 years? (Round your answer to the nearest cent.) Recall that the simple interest formula does not use Excel. The simple interest formula calculates interest only. This question requests the account balance, not just interest earned. $ Incorrect: Your answer is incorrect. If interest is compounded monthly, what is the balance in the account after 20 years? (Round your answer to the nearest cent.) $