## Elementary Algebra

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.