Final answer:
The high school mathematics question is about calculating simple interest earned after 7 years on $875 at a 4% rate. Using the simple interest formula (Interest = Principal × Rate × Time), we find that Jane will have earned $245 in interest.
Step-by-step explanation:
The subject of this question is Mathematics, and it is aimed at high school students.
The student wants to know how much interest Jane will have earned after 7 years with a starting amount of $875 and a simple interest rate of 4%. Let's break down the steps to calculate this.
Simple interest can be calculated using the formula I = PRT, where:
- I stands for the interest earned
- P stands for the principal amount (the initial amount of money)
- R is the annual interest rate (in decimal form)
- T is the time the money is invested or borrowed for, in years
Using the formula, Jane's interest after 7 years would be calculated as:
I = PRT = $875 × 0.04 × 7
Let's do the math:
I = $875 × 0.04 × 7
= $35 × 7
= $245
So, Jane will have earned $245 in simple interest after 7 years.