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

In the situation, simple interest is calculated yearly. How much interest was earned? Principal: $8000; Time: 4 years; Interest rate: 12%; Interest: ?
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4 votes
In the situation, simple interest is calculated yearly.

How much interest was earned?

Principal: $8000; Time: 4 years; Interest rate: 12%; Interest: ?

User Gaurav S
by
7.9k points

1 Answer

6 votes
I believe the total interest is 3840.
(4 times .12) times 8000
User Adxl
by
8.8k points
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