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5 votes
Use the simple interest formula to find the ending balance.

$1500 at 7% for 1.5 years.

Please explain it, if possible.

User Gimly
by
7.7k points

2 Answers

3 votes

Answer:

1657.50

Explanation:

The explanation is a little confusing and hard to go through but I will put a formula and some definitions for some help. :)

i = prt

i = interest

p = principal

r = rate

t = time

a = total of principal and interest

A = P (1 + r) t

User Michael Andrews
by
7.3k points
5 votes
F=p(1+rt),,1500(1+0.07*1.5)=???
User Deyaniris
by
8.8k points

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