srosenbaum98
Answered

In the situation, simple interest is calculated yearly. How much interest was earned? Drag and drop the answer into the box. Principal: $8000; Time: 4 years; Interest rate: 12%; Interest: ?

Verified Answer :

Answer:

The simple interest be $3840 .

Step-by-step explanation:

Formula

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As

Principal = $8000

Time = 4 years

Interest rate =12%

Put value in the above formula

\(Simple\ interest = \frac{8000\times 4\times 12}{100}\)

\(Simple\ interest = \frac{384000}{100}\)

Simple interest = $3840

Therefore the simple interest be $3840 .


JeanaShupp

Answer: $3840

Step-by-step explanation:

We know that the formula to calculate simple interest is given by :-

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Given: Principal (P): $8000

Time (t): 4 years

Interest rate (r): 12% =0.12

Now, the simple interest earned is given by :-

\(S.I=8000\times0.12\times4\\\\\Rightarrow\ S.I.=\$3840\)

Hence, Simple interest was earned = $3840

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