Sam deposits $1,000 into an account that pays 6% simple interest annually. he plans to take the money out after 3.5 years. what will the balance in his account be after 3.5 years?

Well, the formula for simple interest is 



"I" is interest, "p" is the principal, "r" is the rate, and "t" is the time.

If you substitute the numbers, you get



When you multiply them together, you get 



So, the simple interest for 3.5 years is $210.

But, in order to get the total balance, you have to add the interest and the principal together.



So, the balance after 3.5 years is $1,210.

7.666270253x10 raised to the 18th power