Question

If you put $65 into a savings account that earns 4% simple interest, how much interest will you earn at the end of 8 years?

Answer 1

$20.8

Explanation:

I = PRT / 100

I = ?

P = 65

R = 4%

T = 8yrs

I = (65 * 4 * 8) / 100

I = $20.8