The simple interest I on an amount P invested at an interest rate R %, for a period of time T per annum is evaluated as
A) The interest earned at $5500 at 6.5% for 5 months is thus evaluated as
thus, the interest earned for $5500 at 6.5% for 5 months is $ 148.985.
B) Total value of the investment.
The total value of the investment is the sum of the interest earned and the initial amount invested.
Thus,
Hence, the total value of the investment is $ 5648.985.