Answer: $72.30
Step-by-step explanation: To solve this problem, first begin with the interest formula.
Formula: Interest = principal × rate × time
In this problem, we are solving for the interest.
The principal is the amount invested which in this case is $482. The rate is 5% which we can write as .05 and the time is 3 years.
Interest = (482)(.05)(3)
Interest = 72.3
This means that the interest earned is $72.30.