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, $1045.2 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 $1045.2 + $75.2544 or $1120.4544.

The total amount of money is $1120.4544.