Answer:
$165.62
Step-by-step explanation:
Multiply principle(910) by rate (0.052) and time (3.5)= interest(165.62)
Answer:
His ending balance is $1075.62
Step-by-step explanation:
To solve this question, we will simply use this formula;
Simple Interest = P × R × T / 100
where p is the principal amount
R is the rate and T is the time
From the above question, principal p=$910 Rate r=5.2 and Time t = 3 1/2
We first change 3 1/2 from mixed number to either improper fraction or decimal fraction ;
3 1/2 = 7/2 = 3.5
We can now go ahead and substitute all our variables in the formula;
Simple Interest = P × R × T / 100
= $910 × 5.2 × 3.5 / 100
= $ 16562 / 100
=$165.62
Simple interest is $165.62
But what we are ask to look for is the ending balance, to get the ending balance, jut add the principal and the interest altogether;
Ending balance = $910 + $165.62
Ending balance = $1075.62
