Question

H E L P PLEASE COME ON WHY WONT ANYONE HELP
Corey deposited $1,500 in a savings account that earns simple interest at 5.75%. What is the balance in his account at the beginning of the third quarter?
A. $1,556.78
B. $1,528.13
C. $1,543.13
D. $1,612.50
Please explain your answer CLEARLY so i can use the principles for future reference. Thanks!

Answer 1

Each quarter=3 months
At the beginning of the third quarter means at the end of two quarters which is 6 months
So the formula is
A=p (1+rt)
A future value?
P present value 1500
R interest rate 0.0575
T time 6 months/12

A=1,500×(1+0.0575×(6÷12))
A=1,543.13

The answer is c
Hope it helps!