The interest that will be paid in 10 years is = $2,925
The total amount of money deposited as savings (p)
= $4,500,
The annual simple interest rate (r) = 6.5%.
The time to collect the interest expected (t) = 10 years.
There the simple interest generated =
[tex] \frac{p \times t \times r}{100} [/tex]
[tex] \frac{4500 \times 10 \times 6.5}{100} [/tex]
[tex] \frac{292500}{100} [/tex]
Therefore simple interest = $2,925
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