Question

Use simple interest to find the interest and ending balance

1. $750 at 4% for 8 years
INTEREST:
ENDING BALANCE:

Answer 1

Interest = $240

Ending Balance = $990

Explanation:

Applying I = prt/100

= (750*4*8)/100

= 240

Therefore Interest = $240

Adding Interest to Principal

= $240 + $750 = $990

=