Question

Alexandra deposited $1,000 in
a savings account
Her
savings account pays 3.5% simple
interest. How much interest will the
account earn in 5 years?

My answers are
A. 35.00
B. 145.00
C . 175.00
D . Not here

Answer 1

$~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \ 1000\\ r=rate\to 3.5\%\to \frac{3.5}{100}\dotfill &0.035\\ t=years\dotfill &5 \end{cases} \\\\\\ I = (1000)(0.035)(5)\implies I=175$