Answer:
the value of the investment after 3 years= £11,904
Explanation:
sarah invests £9600 at a simple interest rate of 8% per year
number of years = 3
Formula for simple interest
I = P*n* r
P is the initial amount invested= 9600
r is the rate of interest = 8% = 0.08
n = number of years = 3
Now we find interest using formula
I = 9600 * 0.08 * 3= 2304
Interest amount is 2,304
Now we add the interest with the initial amount to get the value of investment after 3 years
9600 + 2304= 11904