Final answer:
Cara will earn a simple interest of $9.80 after one year on her initial deposit of $280 in a savings account that has an annual interest rate of 3.5%.
Step-by-step explanation:
Calculating Simple Interest
Cara's initial deposit of $280 in a savings account that pays 3.5% interest annually will earn interest over one year. To calculate the simple interest earned after one year, you can use the formula I = PRT, where I is the interest, P is the principal amount (the initial deposit), R is the annual interest rate (in decimal form), and T is the time in years. Substituting the values, I = $280 × 0.035 × 1.
Therefore, the simple interest Cara will have earned after one year is:
So, Cara will earn $9.80 in interest after one year.