The balanced chemical formula for iron (III) oxide is Fe₂O₃.

Here's why:

* Iron (III) means iron has a +3 charge (Fe³⁺).

* Oxide refers to the oxygen anion, which has a -2 charge (O²⁻).

* To balance the charges, you need two iron ions (2 x +3 = +6) and three oxygen ions (3 x -2 = -6).