Register
Use the simple interest formula to find the ending balance. $5000 at 5% for 3.5 years. Round your answer to the nearest cent. Enter your answer in the box.
201k views
5 votes
Use the simple interest formula to find the ending balance.

$5000 at 5% for 3.5 years.

Round your answer to the nearest cent.

Enter your answer in the box.

User Avario
by
7.6k points

2 Answers

7 votes
I believe it's 5,875.00
User Wondim
by
8.3k points
5 votes
5000 * 0.05 * 3.5 = 875

5000 + 875 = 5875

answer: ending balance $5,875
User KiynL
by
8.0k points
← Prev Question Next Question →

No related questions found

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

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
The cost of 5 similar digital cameras and 3 similar video cameras is 3213. Each video camera costs 4 times as much as each digital camera. John buys a digital camera and a video camera. How much does he
Link Copied!