Question

Motherdeposited $30 000.00 at a bank for 5 years at a rate of 5% per annum. How much interest will she collect at the end of the 5 years?​

Answer 1

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$30000\\ r=rate\to 5\%\to (5)/(100)\dotfill &0.05\\ t=years\dotfill &5 \end{cases} \\\\\\ I = (30000)(0.05)(5) \implies I = 7500`