Question

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If no money was deposited into or withdrawn from the account, how much money was in the account after ​ ​ 1/2​ years?

Round your answer to the nearest cent.

Answer 1

654.06

Step-by-step explanation: i took the test it is right!

Answer 2

There would be $654.06. 5.5% of 575 is 31.625 so you multiply 31.625 by 2.5 and add it to 575 and you get $654.06.