ANSWER
$15,750
EXPLANATION
We want to find the interest that is earned from $450,000 in a year at a rate of 3.5%.
To do this, we have to use the formula for Simple Interest:
[tex]SI\text{ = }\frac{P\cdot\text{ R }\cdot\text{ T}}{100}[/tex]where P = principal = $450,000
R = rate = 3.5%
T = time (in years) = 1 year
Therefore, the simple interest is:
[tex]\begin{gathered} SI\text{ = }\frac{450000\cdot\text{ 3.5 }\cdot\text{ 1}}{100} \\ SI\text{ = \$15,750} \end{gathered}[/tex]