fill in the blank 1 point a savings account earns a simple interest rate of 6.75% per year on an account…

Explanation:

Step1: Identify the simple - interest formula

The simple - interest formula 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 total amount $A$ in the account after $t$ years is $A=P + I=P(1 + rt)$.

Step2: Convert the interest rate to decimal form

The annual interest rate $r = 6.75%=0.0675$. The principal amount $P = 500$ and the time $t = 2$ years.

Step3: Calculate the total amount

Substitute the values into the formula $A=P(1 + rt)$. $A = 500\times(1+0.0675\times2)$ $A = 500\times(1 + 0.135)$ $A = 500\times1.135$ $A = 567.5$

Answer:

$567.5$