Final answer:
To find the simple interest earned with a principal of $350, an interest rate of 2.5%, and a time period of 3 years, the calculation is $350 × 0.025 × 3, which yields an interest of $26.25.
Step-by-step explanation:
Calculating the simple interest earned over a period of time can be done using the formula: Interest = Principal × rate × time. In this case, the student started with a principal amount of $350 at an interest rate of 2.5%, over a period of 3 years.
Using the formula provided:
Interest = Principal × rate × time
Interest = $350 × 0.025 × 3
To calculate the interest:
Interest = $350 × 0.025 × 3
Interest = $26.25
Hence, the total amount of interest that the student will earn after 3 years is $26.25.