Answer:
$3000
Step-by-step explanation:
Use formula for simple interest
[tex]I=P\cdot i\cdot t,[/tex]
where I is interest, P is total principal, i is rate of interest per year (as decimal) and t is total time in years.
In your case, P=$3000, i=0.05, t=20, then
[tex]I=3000\cdot 0.05\cdot 20=\$3000.[/tex]
