Find the simple interest for a $3000 loan for 3 years at a rate of 5% (Formula: I=Prt)​

To answer this, you use the formula where

     is the simple interest that builds

     is the principal (AKA the amount invested/borrowed)

     is the interest rate per year

     is the lenght of the loan, in years.

In your situation:

This means there'd be $450 of simple interest due at the end of 3 years.

a is the right answer