35,000 at 4% for 5 years
compounded how often? Not compounded?
Really .____.
I = 35000 × 0.04 × 5 = 7000
I = $ 7,000.00
To calculate the interest earned on an investment of $35,000 at an interest rate of 4% for 5 years, you can use the formula:
Interest = Principal x Rate x Time
In this case:
Principal = $35,000
Rate = 4% (which can be expressed as 0.04)
Time = 5 years
Therefore, plugging in the values into the formula:
Interest = $35,000 x 0.04 x 5
Interest = $7,000
So, the interest earned on a $35,000 investment at 4% for 5 years would be $7,000.