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How much is the ENDING Balance...
$53,300 at 6% for 9 years?

User Cfrim
by
8.2k points

1 Answer

4 votes

Answer:

The ending balance is $90049.2285

Explanation:

Principal = 53300

Rate of interest =6%

Time = 9 years

We are supposed to find How much is the ENDING Balance

Formula :
A=P(1+r)^t

A = Amount

P = Principal

r = rate of interest in decimals

t =time

Substitute the values in the formula "

So,
A=53300(1+0.06)^9

A=90049.2285

Hence The ending balance is $90049.2285

User Maayan Hope
by
8.3k points

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