Question

Tim deposited $2,500 into an account. He made no additional deposits or withdrawals. Tim earned 5.25% annual simple interest on the money in the account. What was the balance in dollars and cents in Tim’s account at the end of 5 years?
Responses
A $3,156.25$3,156.25
B $131.25$131.25
C $656.25$656.25
D $6,562.50