Answer:
option C - $675
Step-by-step explanation:
Given : A deposit of $4,500 at 5% for 3 years
To find : Compute the amount of interest earned in the following simple interest problem.
Solution :
Using simple interest formula,
[tex]S.I=P\times R \times T[/tex]
Where S.I is the simple interest
P is the principle P=4500
r is the rate r=5%=0.05
t is the time t= 3 years
Substitute the value,
[tex]S.I=P\times R\times T[/tex]
[tex]S.I=4500\times 0.05\times 3[/tex]
[tex]S.I=675[/tex]
Therefore,Option C is correct.
The simple interest is $675
