Mathematics
desirae
22

James deposited $575 into a bank account that earned 5.5% simple interest each year. If no money was deposited into or withdrawn from the account, how much money was in the account after ​ ​ 1/2​ years? Round your answer to the nearest cent.

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(1) Answers
Kary12

There would be $654.06. 5.5% of 575 is 31.625 so you multiply 31.625 by 2.5 and add it to 575 and you get $654.06. 

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