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, $575.77 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 $575.77 + $67.94086 or $643.71086. \ \
The total amount of money is $643.71086.