#### Explanation:

As,

$I = P R T$

where:

$I = I n t e r e s t$
$P =$ $P r i$$n$$c i p a l$
$R = R a t e$
$T = T i m e$

Plugging all given to the Formula,

as R=5.8%, we can convert it to decimal by simply moving the decimal point 2 places to left,

$5.8 = 0.058$

I = ($13,950)(0.058)(5 years) I =$4,045.50#