Find the interest to the nearest cent. $3500 at 10% for 5 Years

P is the principal amount, $3500.00.

r is the interest rate, 10% per year, or in decimal form, 10/100=0.1.

t is the time involved, 5 ... year (s) time periods.

So, t is 5 ... year time periods.

To find the simple interest, we multiply 3500 * 0.1 * 5 to get that:

The interest is: $1750.00

If you need compounding the formula is different.