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3 years ago

Use simple interest to find the ending balance.

Mathematics

2 answers:

elixir [45]3 years ago

8 0

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!

zaharov [31]3 years ago

4 0

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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