Answer
The interest earned will be 180 dollars.
Work Step by Step
To find the interest earned, we use the interest formula.
The interest formula is:
I = P $\times$ r $\times$ t.
P = 1200
r = 5% = 0.05
t = 3
Substitute these values in the formula to obtain:
interest earned = 1200 $\times$ 0.05 $\times$ 3
interest earned = 180
The interest earned will be 180 dollars.
