Question

Use the simple interest formula to find the ending balance.

$1500 at 7% for 1.5 years. 13 points

Answer 1

i = prt
where i = interest, p = principal, r = interest rate, t = time

i = $1500 * 0.07 * 1.5

i = $157.5

Answer 2

the answer is 1,657.50 i know because i took the quiz and got a 100 on it.