Ralph deposited $910 in an account that pays 5.2% simple interest for 3 1/2 years what is his ending balance

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

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