At Westonci.ca, we provide reliable answers to your questions from a community of experts. Start exploring today! Our platform connects you with professionals ready to provide precise answers to all your questions in various areas of expertise. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.
Sagot :
Well, the formula for simple interest is
[tex]I=prt[/tex]
"I" is interest, "p" is the principal, "r" is the rate, and "t" is the time.
If you substitute the numbers, you get
[tex]I=1,000(0.06)(3.5)[/tex]
When you multiply them together, you get
[tex]I=210[/tex]
So, the simple interest for 3.5 years is $210.
But, in order to get the total balance, you have to add the interest and the principal together.
[tex]B=1000+210 \\ B=1210[/tex]
So, the balance after 3.5 years is $1,210.
[tex]I=prt[/tex]
"I" is interest, "p" is the principal, "r" is the rate, and "t" is the time.
If you substitute the numbers, you get
[tex]I=1,000(0.06)(3.5)[/tex]
When you multiply them together, you get
[tex]I=210[/tex]
So, the simple interest for 3.5 years is $210.
But, in order to get the total balance, you have to add the interest and the principal together.
[tex]B=1000+210 \\ B=1210[/tex]
So, the balance after 3.5 years is $1,210.
Answer:
$1210
Step-by-step explanation:
The solution is one thousand two hundred ten dollars. p is one thousand dollars. r is six percent. t is three point five years. Multiplying, the interest earned is two hundred ten dollars.
To find the balance, add the principal, one thousand dollars, to the interest earned, two hundred ten dollars. This equals one thousand two hundred ten dollars.
Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.