what is the ending balance if the principle is 600, the time is 6 months, and the rate is 5%
FV = PV [1 + R]^N
FV =600 x [1 + 0.05/12]^6 - Assuming that the interest rate of 5% is compounded monthly.
FV =600 x 1.00416667^6
FV =600 x 1.025262....
FV =$615.16
