Question

Use the formula for Interest:

Answer 1

Answer:

The correct answer is D $568.18

Step-by-step explanation:

The formula of interest is A=P (1+r)ⁿ

A=Final amount  

P= Principal ( deposit)  

r= interest rate

Y=n= time

Solving,  

A=P (1+r)ⁿ

A=500(1+0,066)^2

A=$568.18

Answer 2

A=P(1+rt)
A=500(1+6.6%)^2
A=$568.18
Answer is D