Question

Lisa puts 8,000 in an account that earns 12%simple annual interest. if she leaves her money in the account for 4 years how much interest will she earn​

Answer 1

She earns $3840

Explanation:

`I \: = (prt)/(100)`

I = interest amount

p = principal ($8000)

r = interest rate (12%)

t = number of yrs (4yrs)

I = (8000×12×4)÷100

= 384000÷100

= 3840