Mr. Young is offered an investment opportunity. Kyra says she will invest his money at a 6% simple interest rate over the next 7 years. Mr. Young decides to invest $3000. How much interest will he have earned when the investment matures? *

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Answer:$126

Step-by-step explanation:Given that:

Investment is done as per Simple interest.

Principal = $3000

Time for which the investment is to done = 7 years

Rate of interest = 6%

To find:Interest earned when the investment matures?

Solution:Formula for Simple Interest :

Where is the principal amount

is the Rate of Interest

is the time for which the investment is made

Putting the given values:

Therefore, the answer is:

Interest earned is

.$126