Question

Use I=PRT
p=12,000
r=4%
t=3year
find I

Answer 1

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$12000\\ r=rate\to 4\%\to (4)/(100)\dotfill &0.04\\ t=years\dotfill &3 \end{cases} \\\\\\ I = (12000)(0.04)(3) \implies I = 1440`