On May 1, Cleveland Livingston opened a savings account that paid
3.5 percent exact interest at Fulton Savings Bank with a deposit of
$5,000. Ten days later he deposited $2,000. Fourteen days later he
deposited $8,000. No other deposits or withdrawals were made. Six
days later the bank calculated the daily interest.
(a) How much simple interest did his money earn?
(b) How much was in the account at the end of the 30 days?