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Use the simple interest formula to find the ending balance. $4000 at 6.5% for 5 years. Enter your answer in the box.

Use the simple interest formula to find the ending balance. $4000 at 6.5% for 5 years. Enter your answer in the box.
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1 vote
Use the simple interest formula to find the ending balance.

$4000 at 6.5% for 5 years.

Enter your answer in the box.

User Bosko Skrbina
by
7.8k points

2 Answers

2 votes

The answer should be 5300

User Ogrodnek
by
8.0k points
5 votes
A = 4000(1 + [0.065 * 5])
A = $5300
User Josemz
by
7.9k points
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