2. Melanie deposits \( \$ 8,200 \) in a bank account paying \( 4.4 \% \) simple interest. How much is in her account after 5 years and 6 months? A. Using the equation \( /= \) Prt, which shows the amount of interest Melanie earns after. 5.5 years? \( \$ 288.64 \) \( \$ 360.80 \) \( \$ 1,984.40 \) \( \$ 28,864.00 \)

To find the amount in Melanie's account after 5 years and 6 months, we first need to calculate the interest using the formula \( I = Prt \), where \( I \) is the interest, \( P \) is the principal amount (\$8,200), \( r \) is the rate (4.4% or 0.044), and \( t \) is the time in years (5.5 years). Plugging in the numbers, we find: \[ I = 8200 \times 0.044 \times 5.5 = \$ 1,984.40. \] Now, to get the total amount in her account: \[ \text{Total Amount} = P + I = 8200 + 1984.40 \approx 10,184.40. \] While the interest amounts alone might seem surprising, it’s essential to remember that simple interest grows steadily and can accumulate significant value over time! If you want to avoid common mistakes in calculating interest, remember to always convert your rate into a decimal and ensure your time is expressed in years. Additionally, make sure to double-check your multiplication and addition processes. Simple mistakes can lead to incorrect totals!