Marcie took out a loan for $2,482. The loan has a simple interest rate of 3.5% per year. No payments will be made on the loan until the end of one year.

To calculate the total amount Marcie will owe at the end of one year, we can use the simple interest formula:

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

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

### Given:
- $ P = 2482 $ (the loan amount),
- $ r = 3.5\% = 0.035 $,
- $ t = 1 $ year.

#### Step 1: Calculate the interest

\[
I = 2482 \times 0.035 \times 1 = 86.87
\]

So, the interest for one year is \$86.87.

#### Step 2: Calculate the total amount owed after one year

\[
\text{Total Amount} = P + I = 2482 + 86.87 = 2568.87
\]

Therefore, Marcie will owe **\$2,568.87** at the end of one year.

Would you like further details or have any questions?

### Related Questions:
1. How would the total amount change if the interest rate were 5% instead of 3.5%?
2. What would be the interest if the loan term was two years instead of one year?
3. If Marcie made monthly payments, how would that affect the total interest paid?
4. How would compound interest change the total amount owed at the end of one year?
5. How can Marcie calculate the monthly payments if she starts repaying after one year?

**Tip:** When dealing with simple interest, the interest only applies to the initial loan amount, not on interest accrued over time.

Learn how to calculate simple interest for a $2,482 loan with an interest rate of 3.5%. This step-by-step guide covers key mathematical concepts such as simple interest and percentage, making it ideal for students in Grades 6-8.

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