Question

find the final balance in an account with $660 invested at 3.5% annual simple interest for five years.

Answer 1

Answer:D

Step-by-step explanation: I got this one right on the quiz.

Answer 2

The equation for simple interest is:
A=P(1+rt)
Where:
A=amount
P=principal amount
r=rate as a decimal
t=time
So:
660(1+(0.035×5))=$775.50