Question

Eveuinup: 08%

Use simple interest to find the ending balance.
17) $26,000 at 3% for 2 years

Answer 1

Answer: $27,560

Explanation:

Formular for simple interest = PRT

P= 26,000

R=3% = 3/100 = 0.03

T= 2

26,000 x 0.03× 2

= 1,560

Ending balance will be 26,000 + 1,560

= $27,560