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Tim’s savings account pays a simple annual interest rate of 3.5%. Suppose he deposits $5,500 in the account and makes no additional deposits or withdrawals for 5 years. What wil…

Tim’s savings account pays a simple annual interest rate of 3.5%. Suppose he deposits $5,500 in the account and makes no additional deposits or withdrawals for 5 years. What wil…
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Tim’s savings account pays a simple annual interest rate of 3.5%. Suppose he deposits $5,500 in the account and makes no additional deposits or withdrawals for 5 years. What will the total value of the account be after 5 years?

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User Pxpgraphics
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8.8k points

1 Answer

5 votes

Answer:6,462.50

Explanation:

answered
User John Siracusa
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8.3k points
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