Answer:
Amount of simple interest in three year = 750
Step-by-step explanation:
Given:
Amount invested = 5,000
Number of year = 3 year
Rate of interest = 5% Annually
Find:
Amount of simple interest in three year
Computation:
Simple interest = (P){R)(T)
Amount of simple interest in three year = (5,000)(3)(5%)
Amount of simple interest in three year = (5,000)(3)(0.05)
Amount of simple interest in three year = (5,000)(0.15)
Amount of simple interest in three year = 750
