Answer:
I = $4,500
Step-by-step explanation:
Simple Interest (I) = PRT / 100
Where:
P= Principal (Amount deposited) = $3000
R= Rate = 7.5%
T= Time = 20 years.
Simple Interest (I) = PRT / 100
I = ($3000 * 7.5 * 20) / 100
I = $450,000 / 100
I = $4,500.
