Use the simple interest formula to find the ending balance.

$1025 at 6.5% for 5 years.

Round your answer to the nearest cent.

Enter your answer in the box.

I=P*R*T

I - Interest

P - Principal (how much you invest) - $1025

Rate - Interest rate - 6.5% =. 065

T - Time - 5 years

I = 1025*.065*5

The interest is $333.13 (333.125 rounded)

The ending balance is interest+principal

$333.13+$1025=$1358.13

Ending Balance = $1,358.13