Corey deposited $1,500 in a savings account that earns simple interest at 5.75%. What is the balance in his account at the beginning of the third quarter?
a. $1,556.78
b. $1,528.13
c. $1,543.13
d. $1,612.50
C. $1,543.13 5.75% / 4 = 1.4375% For the four total quarters per year 1.4375% x 2 = 2.875% for the 2 complete quarters you do not get the interest at the beginning of the quarter $1,500 x 0.02875 = $43.125 in interest $1,500 + $43.13 = $1,543.13
