Question

Marsha deposited ​$5000 into a savings account 3years ago. The simple interest rate is ​5%. How much money did Marsha earn in​ interest?

Answer 1

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$5000\\ r=rate\to 5\%\to (5)/(100)\dotfill &0.05\\ t=years\dotfill &3 \end{cases} \\\\\\ I = (5000)(0.05)(3) \implies I = 750`