Use simple interest to find the ending balance, given the following values for principal, rate, and...

Question

Question

Use simple interest to find the ending balance, given the following values for principal, rate, and time. 9) $34,000 at 11.8% for 5 years

Answer 1

Answer #1

9)

P=34000,r=11.8 $\%$ ,t=5 years

total interest ,i=Prt
=>i=34000*(11.8_/100)*5
=>i= $\$$ 20060

ending balance =P+i
=>ending balance =34000+20060
=>ending balance = $\$$ 54060

PLEASE RATE IF HELPFUL.PLEASE COMMENT IF YOU HAVE ANY DOUBT

Answer 2

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