The interest on 20,000 at 6% interest for 3 years is 3,600
The interest can be calculated using the simple interest formula:
I = Prt
Where:
I = Interest
P = Principal (the initial amount)
r = rate of interest per year
t = time period in years
Plugging in the given values:
P = 20,000
r = 6% = 0.06 (in decimal)
t = 3
I = 20,0000.063
I = 3,600
Therefore, the interest on 20,000 at 6% interest for 3 years is 3,600.