Answer:
$98
Explanation:
To determine the simple interest that will be earned on a principal(P), we use the formula:
[tex]Simple\: Interest=\frac{Principal\times Rate\times Time}{100}[/tex]From the question:
• Principal = $350
,• Rate = 8%
,• Time = 3.5 years
Substituting these values, we have:
[tex]\begin{gathered} Simple\: Interest=\frac{350\times8\times3.5}{100} \\ =\frac{9800}{100} \\ =98 \end{gathered}[/tex]The interest you will make after 3.5 years is $98.
