If $70960.00 $LaTeX: \displaystyle dollars is invested at 5.3% simple interest for 3 years, how much interest is earned and what is the new account balance? </p>$

Using $LaTeX: \displaystyle I = P\cdot r \cdot t = (70960)(0.053)(3) = 11282.64$ . The account balance is $LaTeX: \displaystyle P + I = 70960 + 11282.64 = 82242.64$