Answer: her interest in 3 years is $45
Step-by-step explanation:
For simple interest, the principal is not compounded. The interest is only on the original capital. The formula for simple interest is expressed as
I = PRT/100
Where
I represents the interest on the principal
P represents the initial amount
R represents the interest rate.
T represents the time in years.
From the information given
P = $300
R = 5%
T = 3 years
I = 300×5×3)/100
I = 4500/100 = 45
