1. How much simple interest is earned on $3,000 in 9 years at an interest rate of 4.5%?

Can anyone help please? This is due tomorrow and I don’t understand this

I = $1,215

Step-by-step explanation:

Principal (P ) = $3,000

interest rate (R ) = 4.5% or 0.045

time (in years) ( t )= 9

Use the simple interest formula:

I = P × r × t

I = $3,000 × 0.045 × 9

I = $1,215  

Therefore, the simple interest earned on a $3,000 investment after 9 years is $1,215.