Answer:
$315
Step-by-step explanation:
You are going to want to use the simple interest formula for this. The one below is modified for solving the interest earned.
[tex]I = Prt[/tex]
I = interest amount
P = principal amount
r = interest rate (decimal form)
t = time
Now we can plug in the values into the equation:
[tex]I = 350(.06)(15)[/tex]
[tex]I = 315[/tex]
This means that Rachel earned $315 worth of interest in the 15 year period.
