Answer:
option C - $675
Step-by-step explanation:
Given : A deposit of $4,500 at 5% for 3 years
To find : Compute the amount of interest earned in the following simple interest problem.
Solution :
Using simple interest formula,
Where S.I is the simple interest
P is the principle P=4500
r is the rate r=5%=0.05
t is the time t= 3 years
Substitute the value,
Therefore,Option C is correct.
The simple interest is $675