1) I am not sure, but I think the constant of variation is the 3500 x I
ANNUAL interest AMOUNT is 12/9 x 91.88 = 122.51
The annual interest RATE is 122.51 / 3500 = .035 (which is 3.5 %)
SO k would be 3500 (.035) = 122.51 and t would be the variable
2) I = P(.035) t The amount of simple interest is equal to the prinipal times the annual interest RATE times the number of years
3) the Annual interest is 122.51 122.51 x 5 = 612.55
Using our equation fro #2 I = 3500(.035)(5) = 612.50 ( slightly different due to rounding)