# Chapter 6 - Percent - Review Exercises - Page 469: 59

$3.50 #### Work Step by Step Interest =$ principal \times rate \times time$Principal = 400 rate =$3\frac{1}{2}$% = 3.5% = 0.035 time = 3 months =$\frac{3}{12} years = \frac{1}{4}$years Interest =$ 400 \times 0.035 \times \frac{1}{4}\$ = 3.50 Dollars

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