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22 March, 19:34

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If no money was deposited into or withdrawn from the account, how much money was in the account after 2 1/2 years?

Round your answer to the nearest cent.

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  1. 22 March, 20:30
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    575 * 0.05 = 28.75

    28.75 * 2.5 (yrs) = 71.875

    575 + 71.875 = 646.875

    therefore, $646.87
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