Suppose you invest $5500 in an account that earns 7% simple interest annually. Use this information to complete the table below. Round to the nearest cent as needed.

Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
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Chapter 5: Simple and Compound Interest - Homework
Score: 50.42/100
21/32 answered
Question 3
Suppose you invest $5500 in an account that earns 7% simple interest annually.
Use this information to complete the table below. Round to the nearest cent as needed.
Year
Starting Balance
Interest
Ending Balance
1
$5500
$385
$5885
$5885
2$
3.
%$4
%$4
$6655
4.
$6655
$4
$4
$385
24
Submit Question
Transcribed Image Text:Chapter 5: Simple and Compound Interest - Homework Score: 50.42/100 21/32 answered Question 3 Suppose you invest $5500 in an account that earns 7% simple interest annually. Use this information to complete the table below. Round to the nearest cent as needed. Year Starting Balance Interest Ending Balance 1 $5500 $385 $5885 $5885 2$ 3. %$4 %$4 $6655 4. $6655 $4 $4 $385 24 Submit Question
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