Question

Person invests $5000 into an account at 5.5% per year simple interest. How much will the person have in 6 years, rounded to the nearest dollar? Possible answers:

A. $6252
B. $6507
C. $6375
D. $6138

Answer 1

C.$ 6375

Explanation:

I =PRT÷100

I= $5000* 5.5 * 6÷100

I=1650

Total amount= P+I

= 5000+1650

=6650

round nearest dollar=6650

= 6375

Answer 2

The answer is **C. $6375**.

```

interest = principal * interest_rate * years

interest = 5000 * 0.055 * 6

interest = 1650

```

The total amount of money in the account after 6 years is:

```

total_amount = principal + interest

total_amount = 5000 + 1650

total_amount = 6650

```

Rounding the total amount to the nearest dollar, we get **6375**.

Therefore, the correct answer is **C. $6375**.

Explanation: