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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 If no money was deposited into or withdrawn from the account, how much money was in the acco…
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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 If no money was deposited into or withdrawn from the account, how much money was in the acco…
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Jul 4, 2017
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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If no money was deposited into or withdrawn from the account, how much money was in the account after 2 1/2 years?
Round your answer to the nearest cent.
Mathematics
middle-school
Fnguyen
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575* 0.05 = 28.75
28.75* 2.5(yrs) = 71.875
575+ 71.875 = 646.875
therefore, $646.87
Simon Warta
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Jul 9, 2017
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Simon Warta
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