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If Sally has $5,000 in her saving account that pays 3.5% interest annually, how much interest will he earn for the year? (Enter your answer as just the number, no $) example 20 or 20.00.

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kayv22
To calculate the interest Sally will earn for the year, we can use the formula: interest = principal * rate. In this case, the principal is $5,000 and the rate is 3.5%.

Using the formula, we can calculate the interest as follows:

interest = $5,000 * 0.035 = $175

So Sally will earn $175 in interest for the year.

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