Answer:
$5875
Step-by-step explanation:
The simple interest formula for the ending balance is ...
... A = P(1 +rt)
You have principal amount P=5000, interest rate r=0.05, and time t=3.5, so the amount (A) is ...
... A = $5000(1 +0.05·3.5) = $5000·1.175
... A = $5875
