Answer:
The answer for this question is 750.00 dollars. The equation is I=prt
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 3%/100 = 0.03 per year,
then, solving our equation
I = 5000 × 0.03 × 5 = 750
I = $ 750.00
The simple interest accumulated
on a principal of $ 5,000.00
at a rate of 3% per year
for 5 years is $ 750.00.
