Colin received a bonus check for 2,500$. he is going to deposit the money into his bank account that receives 5.5% simple interest. what is his balance after one year?
a. $2,637.50
b. $2,373.50
c. $2,813.50
d. none of these choices

This is the concept of financial mathematics, the simple interest rate is given by:
S.I.=(PRT)/100
where:
P=principle=$2500
R=rate=5.5%
T=time=1 year
Hence;
S.I.=(5.5*2500.1)/100
=$137.5
Thus the total amount he had after 1 year will be:
2500+137.5
=$2,637.5