Question

An amount of $8,000 is invested at a simple interest rate of 1.5%. What is the total amount after three years?

Answer 1

you do $8000(1.50)^3
with 3 being the amount of years. which ends up being $27,000 after three years

Answer 2

If you're looking for the interest the answer would be:
i=8,000*.015*3
i=360.
The interest would be $360 dollars.
The balance would be 8,000+360= $8,360