1. The problem is to calculate the simple interest earned on a principal amount of 4000 at an interest rate of 3.5% over 6 years.
2. The formula for simple interest is:
$$I = P \times r \times t$$
where $I$ is the interest, $P$ is the principal, $r$ is the annual interest rate (in decimal), and $t$ is the time in years.
3. Convert the interest rate from percentage to decimal:
$$r = \frac{3.5}{100} = 0.035$$
4. Substitute the values into the formula:
$$I = 4000 \times 0.035 \times 6$$
5. Calculate the interest:
$$I = 4000 \times 0.21 = 840$$
6. Therefore, the simple interest earned over 6 years is 840.
Simple Interest 346466
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