Answer:
The answer is $793.50
Explanation:
To solve this, we will use the annual interest formula for simple interest, which is:
A = P(1 + rt)
Where:
- A is the final amount including principal
- P is the principal amount = $750
- r is the rate per year = 2.9% or 0.029 (that is 2.9 divided by 100)
- t is the number of years = 2 years
Next, we input these into the equation as follows:
A = 750(1 + 0.029 x 2)
A = 750(1 + 0.058)
A = 750(1.058)
A = 793.5
Therefore, Susan earns $793.50
