Question

Please Help If You Know How To Do Simple Interest ;3

Worth 15 points each (I think cause I put 30 points)

Answer 1

$5875

Explanation:

The simple interest formula for the ending balance is ...

... A = P(1 +rt)

You have principal amount P=5000, interest rate r=0.05, and time t=3.5, so the amount (A) is ...

... A = $5000(1 +0.05·3.5) = $5000·1.175

... A = $5875