1. **State the problem:** MrAdams invested 5000 and received 5810 after 3 years with simple interest. We need to find the annual interest rate. 2. **Formula for simple interest:** $$A = P(1 + rt)$$ where $A$ is the amount after interest, $P$ is the principal, $r$ is the annual interest rate (as a decimal), and $t$ is the time in years. 3. **Identify known values:** - $A = 5810$ - $P = 5000$ - $t = 3$ 4. **Substitute values into the formula:** $$5810 = 5000(1 + 3r)$$ 5. **Divide both sides by 5000 to isolate the term with $r$:** $$\frac{5810}{5000} = \cancel{\frac{5000}{5000}}(1 + 3r)$$ $$1.162 = 1 + 3r$$ 6. **Subtract 1 from both sides:** $$1.162 - 1 = 3r$$ $$0.162 = 3r$$ 7. **Divide both sides by 3 to solve for $r$:** $$\frac{0.162}{3} = \cancel{\frac{3}{3}}r$$ $$0.054 = r$$ 8. **Convert $r$ to a percentage:** $$r = 0.054 \times 100 = 5.4\%$$ **Final answer:** The annual interest rate paid by the credit union is **5.4%**.