Jamie I. answered • 10/05/17

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Craig T.

asked • 10/25/16use simple interest to find the ending balance

$10,000 at15% for 3 years

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Jamie I. answered • 10/05/17

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4.8
(48)
Algebra/Geometry/Precalculus Tutoring

14500

Victoria B. answered • 10/25/16

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High School and Middle School Math Teacher

Okay we must use the formula for simple interest which is;

I=PRT

I= interest

P=principal

R= percent rate (must be written in decimal form)

T- time in years

I= $10,000 * .15 * 3

I=$4500

So the total ending balance would be $10,000 + $4,500= $14,500

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