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Use the simple interest formula to find the end balance. Round your answer to the nearest cent (hundredths place).

$55,000 at 2.5% for 5 years

a
$6,875
b
$68,750
c
$61,875
d
$123,750

Sagot :

Answer:

a) $6,875

Step-by-step explanation:

S.I. = P×R×T/100

= 55,000 × 2.5 × 5/100

= 687500/100

= $6,875

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