Carmelo puts 2,200 into savings bonds that pay a simple interest rate of 3.4%. How much will the bonds be worth after 5.5 years?

CPhill has the 100 in his equation too Rosala.

he used   r=0.034  and you used r=3.4/100  

see, they are the same.  :)

I think yours was just a careless error.

you had P=1200 instead of P =2200    

i think we will solve this like .....

the formula to find simple interest is 

PRT/100

thats 

principal * rate * time/100

now lets put the numbers

principal= 1200

rate= 3.4%

time 5.5 years

so

1200 * 3.4 * 5.5 / 100

now divide them all!

= 1122 / 5

= 224.4

so thats the interest he gets!

Good try, rosala....but I think we  need this....

The interest accrued is just

I = Prt =  2200(.034)(5.5)  = $411.40

So...this added back to the principal of $2200 gives us their worth of......  $2611.40

but CPhill wheres the 100...im suspecting you all dont like 100 hun?

oh sorry.....fingers you know!