use the simple interest formula, i = prt, to find the simple interest: julia invested $4,000 in a mutual…

use the simple interest formula, i = prt, to find the simple interest: julia invested $4,000 in a mutual fund with the simple interest rate of 3.5% per year. how much interest would she earn after 2 years? (1 point) amount of interest = $ \\square (round to the nearest dollar)

use the simple interest formula, i = prt, to find the simple interest: julia invested $4,000 in a mutual fund with the simple interest rate of 3.5% per year. how much interest would she earn after 2 years? (1 point) amount of interest = $ \\square (round to the nearest dollar)

Answer

Explanation:

Step1: Identify values for p, r, t

Principal ( p = $4000 ), rate ( r = 3.5% = 0.035 ), time ( t = 2 ) years.

Step2: Apply simple interest formula ( I = prt )

Substitute values: ( I = 4000 \times 0.035 \times 2 ) Calculate: ( 4000 \times 0.035 = 140 ), then ( 140 \times 2 = 280 )

Answer:

280