Find the ending balance Principal: $600 Interest Rate: 5% Time: 6 years 600(1 + 5\%)^(6) ​

Question

Find the

ending balance
Principal: $600
Interest Rate: 5%
Time: 6 years

`600(1 + 5\%)^(6)`
​

Answer 1

Ending Balance = 600 * (1.05)^6

Ending Balance = 600 * 1.3400956406

Ending Balance = 804.06

Explanation: