Ask Question
21 October, 06:38

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If no money was deposited into or withdrawn from the account, how much money was in the account after 2 1/2 years?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

+4
Answers (1)
  1. 21 October, 09:25
    0
    575 * 0.05 = 28.75

    28.75 * 2.5 (yrs) = 71.875

    575 + 71.875 = 646.875

    therefore, $646.87
Know the Answer?
Not Sure About the Answer?
Find an answer to your 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 If no money was deposited into or withdrawn from the ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers