Answer:
$868
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 3.5%/100 = 0.035 per year,
then, solving our equation
I = 6200 × 0.035 × 4 = 868
I = $ 868.00
The simple interest accumulated
on a principal of $ 6,200.00
at a rate of 3.5% per year
for 4 years is $ 868.00.
