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MudBogey
Answered

Use the simple interest formula to find the ending balance.


$1500 at 7% for 1.5 years.


Please explain it, if possible.

Verified Answer :

Aliwohaish12

F=p(1+rt),,1500(1+0.07*1.5)=???

iizukun

Answer:

1657.50

Step-by-step 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

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