Liu deposited $3500 into a savings account 2 years ago. the simple interest rate is 4%. how much money did lui earn in interest? what would the account earn in 10 years?

Step-by-step explanation:

The formula for simple interest is ...

  i = Prt

where P is the principal, r is the annual rate, and t is the number of years.

a) Filling in the given values, we find the amount of interest to be ...

  i = $3500·0.04·2 = $280 . . . . interest earned in 2 years

__

b) In 10 years, the account will earn ...

  i = $3500·0.04·10 = $1400 . . . . earnings in 10 years

all it means is function 3

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