contestada

Calculate the total amount in an investment account if $2800 was invested at a simple interest rate of
5.5% for 18 months.
a. $3034.15
b. $3031.00
Trinh invected $2400.st.0866
c. $7340.11
d.
$5544.00

Respuesta :

MrRoyal

The total amount in the investment account is $3031.00

How to determine the total amount?

The given parameters are

Principal, P = $2800

Rate, r = 5.5%

Time = 18 months i.e. 1.5 years

The amount is then calculated as:

A = P + PRT

This gives

A = 2800 + 2800 * 5.5% * 1.5

Evaluate

A = 3031

Hence, the total amount in the investment account is $3031.00

Read more about simple interest at:

https://brainly.com/question/25845758

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