Question

Use the simple interest formula to find the ending balance.

$1025 at 6.5% for 5 years.

Round your answer to the nearest cent.

Enter your answer in the box.
$

Answer 1

$1025 * 0.06 * 5 

= 333.125
= 333.13

$1025 + $333.13 = $1,358.13

answer: ending balance $1,358.13