Answer:
D. 689. 42
Explanation:
The equation to calculate the total including the initial principal plus interest is [tex]A=P(1+r/n)^{nt}[/tex], where the following is true:
A= Total (principal plus interest)
P= Principal ($500)
R= Rate (5.5% in decimals = 0.055)
n= Compound (Annually -- 1 year)
t= Time in years (6 years)
[tex]A=500(1+(0.055/1))^{1X6}[/tex]
[tex]A=500(1+0.055)^{6}[/tex]
[tex]A=500(1.055)^{6}[/tex]
[tex]A=500(1.37884)[/tex]
[tex]A=689.42[/tex]
