144k views
1 vote
Use the simple interest to find the ending balance

Use the simple interest to find the ending balance-example-1
User Lingvomir
by
6.8k points

1 Answer

5 votes
It starts with 1,880 with 10% in simple interest. We should find 10 percent of 1,880 so we can find what it gains every 2 years. After that, we can make an equation involving the starting value, 1880, and the rate, 10% of 1880. After, we can replace X with 2 to find the balance after 2 years.
1,880×.1=188
1,880+ 188x=y
1,880+ 188(2)=y
1,880+ 376=y
2,256=y
The balance after 2 years is $2,256.
User Sampwing
by
9.3k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories