Answer:
$36
Step-by-step explanation:
You are going to want to use the simple interest formula for this. The one below is modified for solving the interest earned.
[tex]I = Prt[/tex]
I = interest amount
P = principal amount
r = interest rate (decimal form)
t = time (years)
First, change 4% into a decimal:
4% -> [tex]\frac{4}{100}[/tex] -> 0.04
Now, plug the values into the equation:
[tex]I=300(0.04)(3)[/tex]
[tex]I=36[/tex]
The interest earned is $36
