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Sagot :
The simple interest is given by the following formula:
[tex]I=Prt[/tex]Where "P" is the deposit, "r" is the interest rate in decimal form, and "t" is time. Now, we plug in the values:
[tex]I=(6250)(0.035)(8)[/tex]Now, we solve the operations:
[tex]I=1750[/tex]therefore, the interest is $1750.
To deteremine the future value we add the deposit to the interest, we get:
[tex]A=P+Prt[/tex]Now, we plug in the values:
[tex]\begin{gathered} A=6250+1750 \\ A=8000 \end{gathered}[/tex]Therefore, the future value is $8000
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