Simple interest formula:
\(I=prt\)
where \(I\)=interest, \(p\)=principal (how much you put in at first), \(r\)=rate as a decimal, and \(t\)=number of years.
Let's plug in what we're given.
\(I=350\times0.05\times4\)
Calculate it out...
\(\boxed{I=70}\)
The interest earned is $70.00.
