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Use the simple interest formula to find the ending balance. $5000 at 5% for 3.5 years.

Use the simple interest formula to find the ending balance. $5000 at 5% for 3.5 years.
asked 6.8k views
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Use the simple interest formula to find the ending balance.

$5000 at 5% for 3.5 years.

asked
User Hubidubi
by
7.8k points

1 Answer

1 vote
$5000 * 0.05 * 3.5 = $875

$5000 + $875 = $5875

answer: ending balance = $5875
hope that helps
answered
User HParker
by
8.6k points
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