After you purchase the house, you decide to do some remodeling in the kitchen. You ask your parents if they would lend you money, but you insist on paying them interest. The agreement is that they...

After you purchase the house, you decide to do some remodeling in the kitchen.  You ask your parents if they would lend you money, but you insist on paying them interest.  The agreement is that they will lend you $6000.00 at asimple interest rate of 3% per year.  Once the interest amounts to $300, you agree to pay them back the $6000 plus the $300 interest.

Supoose that the $6000.00 was invested in a savings account that paid 2.5% interest
compounded quarterly.

How much interest would be earned after 3 years?Be sure to show all of your work.