Chapter 2 - Solving Equations - 2-9 Percents - Practice and Problem-Solving Exercises - Page 141: 29

108 dollars

Recall, I=Prt, where I is interest, P is the principle (the amount of money invested), r is the rate (which equals the original percentage divided by 100) and t is the time, in years. Thus, we obtain: $I=(1200)(3/100)(3)=108$ dollars