find the future value (in dollars) of a 2 - year investment of $6,925 into a simple interest rate account…

Explanation:

Step1: Identify the simple - interest formula

The formula for simple interest is $I = Prt$, where $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years. The future value $A$ of an investment with simple interest is $A=P + I=P(1 + rt)$.

Step2: Convert the interest rate to decimal

The annual interest rate $r = 3.3%=0.033$. The principal $P = 6925$ and the time $t = 2$ years.

Step3: Calculate the future value

Substitute the values into the formula $A=P(1 + rt)$. $A=6925\times(1+0.033\times2)$ $A = 6925\times(1 + 0.066)$ $A=6925\times1.066$ $A = 7481.05$

Answer:

$7481.05$