To find the interest, we're going to use the following formula
[tex]I=P\times r\times t[/tex]Where P represents the principal, r represents the rate(written as a decimal), and t represents the time in years.
Plugging the given values on this formula, we have
[tex]I=22,000\times0.03\times5=3300[/tex]The interest after 5 years will be $3300.00.
