Answer:
$1695.31
Step-by-step explanation:
The appropriate formula is ...
... I = Prt
where P is the principal amount invested, r is the interest rate, and t is the time period. In this problem, the interest rate is an annual rate, so t must be expressed in years. There are 12 months in a year, so 15 months is 15/12 years.
... I = 35000×0.03875×(15/12)
... = 1695.3125 ≈ 1695.31
