The total amount of money in the account at the first year.
\The simple interest formula is .
(Substitute
)
(Multiply:
)
(Add the amount invested and the interest)
At the end of the first year, $9821.875 in the account.
The total amount of money in the account at the second year.
\The simple interest formula is .
(Substitute
)
(Multiply:
)
The amount in the account after 2 years is $9821.875 + $1203.1796875 or $11025.0546875.
The total amount of money is $11025.0546875.