gymgirlolson gymgirlolson

02-03-2017
Mathematics

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How do you find the balance of the account and find the interest in math

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emiiporras96 emiiporras96

02-03-2017

To find the total amount that Tim will owe, as described above, first find the interest using the simple interest formula. (100)(0.05)(1) Substitute 100 for P, 0.05 for r, and 1 for t. To find the balance, add the interest to the principal. ANSWER Tim will owe a balance of $100 $5, or $105.

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