If the principal P = $700, the rate r = 6 1

Question

2 %, and time t = 1 year, find the following.
(a) What is the amount of interest?
$

(b) What is the future value?

Answer 1

I = PRT

I = 700 * 0.65 * 1

I = 45.50

45.50 + 700 = ?

Answer 2

if the p= $500, the rate r=6 1/2 %and time t=1year
what is the amount of interest?
what is the future value?