Answer :
I=PRT
I=intrest
p= starting balance/initial balance
r= rate
t=time
i=175,000x.05x1
i=8750
this is the intrest rate the amount given in one year
you need to add this to the first amount since its is simple interest not compound
I=intrest
p= starting balance/initial balance
r= rate
t=time
i=175,000x.05x1
i=8750
this is the intrest rate the amount given in one year
you need to add this to the first amount since its is simple interest not compound
