Given:
Principal = $3500
Rate of simple interest = 3.65% = 0.0365
Time = 4 year
To find:
The amount.
Solution:
The formula for simple interest is
[tex]I=P\times r\times t[/tex]
where, P is principle, r is rate of interest and t is time in years.
Substituting P=3500, r=0.0365 and t=4, we get
[tex]I=3500\times 0.0365\times 4[/tex]
[tex]I=511[/tex]
Now,
[tex]Amount=P+I[/tex]
[tex]Amount=3500+511[/tex]
[tex]Amount=4011[/tex]
Therefore, the amount after 4 years in pahola's account is $4011.
