Mr. Stallworthy opened up a college savings account for his daughter at the local bank. He put $1,750 in the account, which pays 5 1/2% in yearly interest
How much will Mr. Stallworthy have earned in interest one year from now?
If he leaves his money and intrest in the bank for another year, how much intrest will he earn for the second year? Round your answer to the nearest hundredths plac.