Answer:
$360
Step-by-step explanation:
To calculate simple interest (I) use the formula
I = [tex]\frac{PRT}{100}[/tex]
Where P is the principal (deposit), R is the rate of interest and T is time in years.
here P = 3000, R = 4 and T = 3, hence
I = [tex]\frac{3000(4)(3)}{100}[/tex] = [tex]\frac{36000}{100}[/tex] = $360
