The answer is $1,026.
Solving: Use Simple interest formula, I=Prt.
Make the rate into a decimal (1.6% -> 0.016)
plug in the numbers into the formula. 950 x 0.016 x 5 = 76$.
76$ will be our interest, now to find the balance we would have to add the the starting money (950) with our interest (76$), resulting in our answer of $1,026 after 5 years.
381 1/10- 214 43/100= 166 67/100
Well. im not 100% sure if this is correct. but what i did was did 5 x 8. which equals 40. so then i did 5 x 3. which equals 15. then i did 5 x 4. which equals 20. hopefully im correct. hope this helped! :)
