Question

Here is it 13 more to go

Answer 1

Answer:

C.$793

Step-by-step explanation:

were looking to 5.5% of 650 but in order to do that first we need to find 1%, we can do that by dividing by 100

650=100%

/100  /100

6.5=1%

now we can multiply by 5.5 to get 5.5%

6.5 = 1%

x5.5 x5.5

35.75=5.5%

now we are looking to find how much money is in the account total after 4 years

so the equation is

(35.75x4)+650

143+650

$793 in total

Answer 2

Step-by-step explanation:

Formula for simple interest:

$a = p(1 + rt)$

where

a = final amount

p = principal amount

r = interest rate per annum

t = time in years

Now, we are finding a, the final amount, and given,

p = $650

r = 5.5% (5.5/100)

t = 4 years

$a = 650(1 + (\frac{5.5}{100} )(4)) \\ = 650(1 + (0.055)(4)) \\ = 650(1 + 0.22) \\ = 650(1.22) \\ = 793 \: dollars$