Final answer:
To achieve $5,000 in three years at 3.5% simple interest, the total amount would be $5,525.
Step-by-step explanation:
Simple interest is calculated using the formula: Interest = Principal x Rate x Time.
In this case, we have a principal amount of $5,000, a time period of three years, and an interest rate of 3.5%. To calculate the total amount, we can use the formula: Total Amount = Principal + Interest.
Plugging in the values, we get: Total Amount = $5,000 + ($5,000 x 0.035 x 3).
Simplifying the expression, the total amount after three years would be $5,525.