James puts $3,500 into a savings account that earns 2.5% simple interest. He does not touch that account for 3 years. What would the new balance of the account be after 3 years?

Given :

James puts $3,500 into a savings account that earns 2.5% simple interest.

He does not touch that account for 3 years.

To Find :

The new balance of the account be after 3 years.

Solution :

Interest on $3500 after 3 years is :

So, new balance of the account after 3 years is $( 3500+262.5 ) = $3762.5  .

Hence, this is the required solution.

the 8 in 8,420 is in the thousands place so it's value is 8 thousand.

the 8 in 6,870 is in the hundreds place so it's value is 8 hundred.

divide 8000 by 800 to find the answer:

8000 / 800 = 10

the 8 in 8,420 is 10 times greater than the 8 in 6,870