https://file.aiquickdraw.com/mathbot/file/1725775889061n8wy8goi.jpg

Let's go step-by-step to solve each of the problems in the image. The initial principal is \$3,500, the interest rate is 7% (or 0.07 as a decimal), and the investment period is 10 years.

### (a) Simple Interest:
The formula for simple interest is:

\[
A = P \times (1 + rt)
\]
where:
- $A$ is the final amount
- $P$ is the principal (\$3,500)
- $r$ is the interest rate (0.07)
- $t$ is the time in years (10)

Substitute the values to get the final amount.

### (b) Compounded Annually:
The formula for compound interest is:

\[
A = P \times \left(1 + \frac{r}{n}\right)^{nt}
\]
where:
- $P$ is the principal (\$3,500)
- $r$ is the interest rate (0.07)
- $n$ is the number of times the interest is compounded per year
- $t$ is the time in years (10)

For annual compounding, $n = 1$. Substitute the values to find $A$.

### (c) Compounded Quarterly:
For quarterly compounding, $n = 4$. Use the same compound interest formula.

### (d) Compounded Monthly:
For monthly compounding, $n = 12$. Use the same compound interest formula.

### (e) Compounded Daily:
For daily compounding (using 360 days per year), $n = 360$. Use the same compound interest formula.

Let me calculate each one of these.

Suppose $3,500 is invested in an account for 10 years. Calculate the amount of money in the account at the end of 10 years with the given interest. Enter your answer rounded to the nearest penny. Use 360 days for a year. (a) 7% simple interest, (b) 7% compounded annually, (c) 7% compounded quarterly, (d) 7% compounded monthly, (e) 7% compounded daily.

Solve the interest calculation problem where $3,500 is invested for 10 years. Learn to compute simple interest and compound interest (annually, quarterly, monthly, and daily) at 7% interest. Includes step-by-step formulas and calculations suitable for high school students in Grades 9-12.

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