Use simple interest to find the ending balance.
2 answers:
Answer:
The ending balance would be:
EB = Money x (1 + rate)^year
= 53300 x (1 + 4.7/100)^(3.75) = 63318.01
Hope this helps!
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Answer:
$62,694.125
Step-by-step explanation:
Interest = 53300 × (4.7/100) × 3.75
Interest = 9394.135
Balance = 53300 + 9394.135
= $62,694.125
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