Answer:
[tex]\huge \boxed{\mathrm{\$ \ 305.00}}[/tex]
Step-by-step explanation:
We can use the simple interest formula to calculate for the interest.
[tex]I=P \cdot r \cdot t \\ \\ \\ \sf I = interest \\ \\ P=principal \ amount \\ \\ r=rate \ (\%) \\ \\ t=time \ (years)[/tex]
Calculating the interest over the two years:
[tex]I=250 \cdot 11\% \cdot 2 \\\\ I=250 \cdot 0.11 \cdot 2 \\\\ I=55[/tex]
Adding the interest to the principal amount:
[tex]\Rightarrow 250+55 \\ \\ \Rightarrow 305[/tex]
Jess will owe the bank $305.00 at the end of the 2 years.
