The total Interest Amount on the Principal Amount Deposited is as per the formula I=Prt,
where, I is the interest
P is the Principal Amount Deposited
r is the Rate of Interest
t is the Time for which the money is deposited
I=(500,000)x(0.04)x(3) = 60,000
Total Amount Received = Principal Amount + Interest Amount
Total Amount = 500,000 + 60,000 = 560,000
Thus, Molly will receive a total amount of $560,000
