Starting with $17,000, invest in an account with 8.75% simple interest, for 11 years. How much interest will you make?

To calculate the simple interest earned on an investment, we use the simple interest formula:

\[
I = P \times r \times t
\]

Where:
- $ I $ is the interest.
- $ P $ is the principal amount (initial investment).
- $ r $ is the annual interest rate (as a decimal).
- $ t $ is the time the money is invested for (in years).

### Given:
- $ P = 17,000 $
- $ r = 8.75\% = 0.0875 $
- $ t = 11 $ years

Now, substitute the values into the formula:

\[
I = 17,000 \times 0.0875 \times 11
\]

Let me calculate this for you.The amount of interest you will make over 11 years is **$16,362.50**.

Would you like more details or have any other questions? Here are 5 related questions that could extend this topic:

1. How much total money will you have at the end of 11 years (principal + interest)?
2. What if the interest were compounded annually instead of simple interest? How would the result change?
3. How would the interest change if the interest rate were 7% instead of 8.75%?
4. What would happen to the interest if the investment duration was extended to 15 years?
5. How would different types of interest (e.g., continuous compounding) affect the total amount earned?

**Tip:** Always convert percentage rates to decimals before using them in formulas by dividing by 100.

Find out how much interest you will earn by investing $17,000 at an 8.75% simple interest rate for 11 years. This example uses the simple interest formula, suitable for Grades 8-10, and provides a step-by-step solution.

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