Given:
P= $ 25500
R=6.1 %
T=8 1/2
Consider
The formula for finding amount with simple interest is
[tex]A=p(1+rt)[/tex]
Substitute p=255500, r=6.1/100 and t=8.5, we get
[tex]A=25500(1+\frac{6.1}{100}\times8.5)[/tex]
[tex]A=25500\times1.5185[/tex]
[tex]A=38721.75[/tex]
Hence the ending balance is $ 38,721.75.
