You invest $5000 in an account at 5.5% per year simple interest. how much will you have in the account at the beginning of the 6th year?

The amount in the account in the  beginning of the 6th year is $6375 .

Step-by-step explanation:

Formula

As given

You invest $5000 in an account at 5.5% per year simple interest.

Principle = $ 5000

Rate = 5.5 %

Time = 5 years

(As calculate amount in the account for beginning of 6th year.)

Putting all the values in the formula

Simple interest = $ 1375

Amount =  Principle + Simple interest

Putting values in the above formula

Amount =  $5000 + $1375

Amount = $ 6375

Therefore the amount in the account in the  beginning of the 6th year is $ 6375 .

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step-by-step explanation:

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