Answer:
514.5
Step-by-step explanation:
We will assume SIMPLE INTEREST for this problem.
The formula for simple interest is:
[tex]i=Prt[/tex]
Where
i is the simple interest earned
P is the principal
r is the rate of interest (in decimal)
t is the time , in years
Given in the problem,
P = 4900
r = 3,5% = 3.5/100 = 0.035
t = 3 years
Substituting, we find the interest earned:
[tex]i=Prt\\i=(4900)(0.035)(3)\\i=514.5[/tex]
The interest earned is 514.5
