For this case, we will use the simple interest formula:
\(I = \frac {PRT} {100}\)
Where,
- P: Initial amount
- R: rate
- T: time in years
Therefore, replacing values we have:
\(I = \frac {(1090) (8) (5)} {100}\\I = 436\)
Answer:
The simple interest is given by:
\(I = 436\) $
