* Fe represents the element iron.

* I represents the element iodine.

* 3 indicates that there are three iodine atoms for every one iron atom.

Understanding the Naming Convention:

* Iron(III) indicates the iron ion has a +3 charge (Fe³⁺).

* Iodide indicates the iodine ion has a -1 charge (I⁻).

To balance the charges and form a neutral compound, we need three iodide ions (3 x -1 = -3) to match the +3 charge of the iron ion.