The ending balance is =$5875
Simple interest is calculated with the formula below:
[tex]si = \frac{p \times t \times r}{100} [/tex]
where, initial balance (principal) = $5000
time = 3.5 years
rate= 5
[tex]si = \frac{5000 \times 3.5 \times 5}{100} [/tex]
[tex]si = \frac{87500}{100} [/tex]
[tex]si = 875[/tex]
Therefore the ending balance is= simple interest+ initial balance
Ending balance = 5000+ 875
= $5875
Learn more about simple interest here:
https://brainly.com/question/25793394
