Question

$1,200, 3.9%, 8months

Answer 1

1,200(1.039)^.66666
1200(1.02583386437)
$1231.00

Answer 2

$1231

Explanation:

Given,

Principal amount = $1200

Rate of interest = 3.9%

Time = 8 months or (8/12) 0.666667 years

Formula of simple interest =
`A=P(1+rt)`

`A=1200(1+(3.9* 0.666667)/(100))`

A = 1200(1+(0.039 × 0.666667))

A = 1200 (1+0.026)

A = 1200 (1.026)

A = $1231