QuestionDavid has $\$ 100,000$ in a savings account that earns $4 \%$ interest per year. The interest is not compounded. How much interest will he earn in 3 years?
Use the formula $i=p r t$, where $i$ is the interest earned, $p$ is the principal (starting amount), $r$ is the interest rate expressed as a decimal, and $t$ is the time in years.