Samantha invests \( \$ 11,000 \) at \( 5 \% \) simple interest for 31 years. Round your answers to the nearest cent. How much interest is earned over the 31 year period? How much is in the account at the end of the 31 year period?

To find the interest earned over 31 years using simple interest, you can use the formula: \[ \text{Interest} = \text{Principal} \times \text{Rate} \times \text{Time} \] Here, the principal is \( \$11,000 \), the rate is \( 5\% \) (which is \( 0.05 \) in decimal form), and the time is \( 31 \) years. \[ \text{Interest} = 11,000 \times 0.05 \times 31 = 11,000 \times 1.55 = 17,050 \] So, the total interest earned over the 31-year period is **\$17,050.00**. To find out how much is in the account at the end of the period, you add the interest to the principal: \[ \text{Total Amount} = \text{Principal} + \text{Interest} = 11,000 + 17,050 = 28,050 \] Thus, the total amount in the account at the end of the 31-year period is **\$28,050.00**.