Answer:
$234
Explanation:
First, converting R percent to r a decimal
r = R/100 = 3%/100 = 0.03 per year,
then, solving our equation
I = 2600 × 0.03 × 3 = 234
I = $ 234.00
The simple interest accumulated
on a principal of $ 2,600.00
at a rate of 3% per year
for 3 years is $ 234.00.