lauren $75,000 in her banking account that offered 3% simple interests for 3.5 years. what is the earned…

Explanation:

Step1: Identify the simple - interest formula

The simple - interest formula is $I = Prt$, where $P$ is the principal amount, $r$ is the annual interest rate (in decimal form), and $t$ is the time in years.

Step2: Convert the interest rate to decimal

The interest rate is $3%$. To convert it to decimal, we divide by 100. So $r=0.03$.

Step3: Identify the values of $P$ and $t$

$P = 75000$ and $t = 3.5$ years.

Step4: Calculate the interest

Substitute the values into the formula: $I=Prt=75000\times0.03\times3.5$. $I = 75000\times0.105$. $I = 7875$.

Answer:

$7875$