The interest earned in 5 years would be $270
Explanation:
Given:
Principal, P = $1800
Rate of interest, r = 3%
Time, t = 5 years
Simple interest, I = ?
We know,
[tex]I = \frac{p X r X t}{100}[/tex]
On substituting the value we get
[tex]I = \frac{1800 X 3 X 5}{100} \\\\I = 270[/tex]
Therefore, interest earned in 5 years would be $270
