Answer:
C.$793
Explanation:
were looking to 5.5% of 650 but in order to do that first we need to find 1%, we can do that by dividing by 100
650=100%
/100 /100
6.5=1%
now we can multiply by 5.5 to get 5.5%
6.5 = 1%
x5.5 x5.5
35.75=5.5%
now we are looking to find how much money is in the account total after 4 years
so the equation is
(35.75x4)+650
143+650
$793 in total
Formula for simple interest:
where
a = final amount
p = principal amount
r = interest rate per annum
t = time in years
Now, we are finding a, the final amount, and given,
p = $650
r = 5.5% (5.5/100)
t = 4 years
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