James deposited $575 into a bank account that earned 5.5% simple interest each year. if no money was deposited into or withdrawn from the account, how much money was in the account after 212 years? round your answer to the nearest cent. enter your answer in the box.

The answer is $654.06.
5.5% of $575 is $31.63.  575 x 0.055 = 31.63
This means that in one year he earns $31.63. In two years it will be $63.25 (31.63 x 2 = 63.25)
Then in half a year it will be $15.81 (31.63/2 = 15.81)
Finally add 15.81 and 63.25 to get $79.06 which you then add to the initial $575 to get the total amount earned in 2 1/2 years which is $654.06.

The answer is 30 minutes to an hour