To find the simple interest, we can use the formula:
Interest = Principal * Rate * Time
Plugging in the given values:
Interest = $3000 * 0.03 * 2
Interest = $180
Therefore, the simple interest for a principal of $3000, a rate of 3%, and a time of 2 years is $180.
P=$3000, r=3%, t= 2years
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