Respuesta :

Simple interest formula:

[tex]I=P*r*t[/tex]

P is the principal

r is the interest rate in decimal form

t is the time in years

For the given situation:

[tex]\begin{gathered} P=5000 \\ r=\frac{10}{100}=0.1 \\ t=3 \\ \\ I=5000*0.1*3 \\ I=1500 \end{gathered}[/tex]

Then, the interest earned for three years is $1500

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