Answer:
Find out the how much money was in the account .
To prove
Formula
\(Simple\ interest = \frac{Principle\times Rate\times Time}{100}\)
As given
Tracy deposited $59 into a bank account that earned 3.5% simple interest each year.
If no money was deposited into or withdrawn from the account .
Here
Principle = $59
Rate = 3.5%
\(Time = 1 \frac{1}{2}\ years\)
\(Time = \frac{3}{2}\ years\)
\(Time = 1.5\ years\)
Put in the formula
\(Simple\ interest = \frac{59\times 3.5\times 1.5}{100}\)
\(Simple\ interest = \frac{309.75}{100}\)
Simple interest = $3.0975
Amount = Principle + Simple interest
= $59 + $ 3.0975
= $ 62.0975
As 1 dollar = 100 cent
Now convert $ 62.0975 in cent .
$ 62.0975 = 62.0975 × 100
= 6209.75 Cent
Therefore money was in the account is 6209.75 Cent .
