Answered

You invest $5000 in an account at 5.5% per year simple interest. How much will you have in the account after 5 years? Round your answer to the nearest whole dollar.

A$6252
B$6507
C$6375
D$6138

Verified Answer :

tiredpeach

Simple Interest = PRT/100

5000 x 5.5 x 5 / 100 = $1375
$5000 + $1375 = $6375

Ans: C

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