The simple interest formula is
i = p*r*t
where,
i = simple interest earned
p = principal (amount deposited)
r = interest rate in decimal form
t = time in years
In this case,
i = unknown for now
p = 3000
r = 0.06 (since 6% = 6/100 = 0.06)
t = 5
Let's plug in those three given values to get
i = p*r*t
i = 3000*0.06*5
i = 900
Final Answer: 900 dollars
