You invest $5000 in an account at 5.5% per year simple interest. How much will you have in the account at the beginning of the 6th year?

Answer: The amount in the account in the  beginning of the 6th year is $6375 .Step-by-step explanation:Formula[tex]Simple\ interest = \frac{Principle\times Rate\ times Time}{100}[/tex]As givenYou invest $5000 in an account at 5.5% per year simple interest.Principle = $ 5000Rate = 5.5 % Time = 5 years (As calculate amount in the account for beginning of 6th year.)Putting all the values in the formula[tex]Simple\ interest = \frac{5000\times 5.5\times 5}{100}[/tex][tex]Simple\ interest = 50\times 5.5\times 5[/tex]Simple interest = $ 1375 Amount =  Principle + Simple interest Putting values in the above formulaAmount =  $5000 + $1375Amount = $ 6375 Therefore the amount in the account in the  beginning of the 6th year is $ 6375 .