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.

How much will Marcie owe after one year?

To calculate how much Marcie will owe after one year, we use the formula for simple interest:

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

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

### Step 1: Identify the values
- $ P = 2,482 $ (loan amount),
- $ r = 3.5\% = 0.035 $,
- $ t = 1 $ year.

### Step 2: Calculate the interest
\[
I = 2,482 \times 0.035 \times 1 = 86.87
\]

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

### Step 3: Calculate the total amount owed
The total amount Marcie will owe after one year is the sum of the principal and the interest:

\[
\text{Total} = P + I = 2,482 + 86.87 = 2,568.87
\]

### Conclusion:
Marcie will owe **\$2,568.87** after one year.

Would you like more details on the calculations or explanations? 

Here are 5 related questions:
1. What is the difference between simple and compound interest?
2. How does the length of time impact simple interest calculations?
3. What would happen if the interest rate changed to 5%?
4. How would monthly payments affect the total owed with simple interest?
5. How does simple interest compare to APR (annual percentage rate)?

**Tip:** Always make sure to convert percentage rates into decimals before using them in formulas!

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. How much will Marcie owe after one year?

Learn how to calculate simple interest on a $2,482 loan with a 3.5% interest rate for one year. This example covers key concepts like the simple interest formula and shows how much Marcie will owe at the end of the year. Suitable for students in Grades 6-8.

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