Final answer:
The total amount of interest from a $5,000 loan after three years with a simple interest rate of 6% is $900.
Step-by-step explanation:
To calculate the total amount of interest, we need to use the formula:
Total Interest = Principal × Rate × Time
Given that the principal is $5,000, the rate is 6%, and the time is 3 years, we can plug in these values to find:
Total Interest = $5,000 × 0.06 × 3 = $900
Therefore, the total amount of interest from a $5,000 loan after three years with a simple interest rate of 6% is $900.