Question

Please hurry please please, please PUT ALOT OF POINTS AND WILL BUT BRINEY

Deirdre deposits $2,500.00 into an account that pays 3.5% annual simple interest. If she makes no other deposits, what will be the balance in the account at the end of two years?

Answer 1

at the end of 5 years it will be $1,280.30 for one one account so it would be same for each account

Explanation:

Answer 2

2678.06

Explanation:

Annual is once every year and 3.5% of 2,500.00 is

3.5% ×2,500.00 = 87.5

so in the first year Deirdre has 2500.00 + 87.5 = 2587.5

then you find 3.5% of 2587.5 which is 90.56250000000001

but since it's money we round it to 90.56

2587.5+90.56= 2678.06