Final answer:
The formula to calculate simple interest is: Interest = Principal × rate × time. Using the given information, we can calculate the interest to be $652.50.
Step-by-step explanation:
The formula to calculate simple interest is: Interest = Principal × rate × time.
Using the given information: Principal = $1450, Interest rate = 9%, and Time = 5 years, we can substitute these values into the formula:
Principal = $1,450
Interest rate = 9% or 0.09 (as a decimal)
Time = 5 years
Plugging these values into the formula:
Interest = $1,450 × 0.09 × 5
Interest = $652.50
Therefore, the total interest earned over 5 years at a 9% interest rate on a $1,450 principal is $652.50.