Remember that
The simple interest formula is equal to
[tex]I=P\left(rt\right)[/tex]
where
I is the Final Interest Value
P is the Principal amount of money to be invested
r is the rate of interest
t is the Number of Time Periods
in this problem we have
P=$19,000
r=3%=0.03
t=3 years
substitute in the formula above
[tex]\begin{gathered} I=19,000(0.03*3) \\ I=\$1,710 \end{gathered}[/tex]
Simple interest is $1,710
