Explanation:
The formula "I=PRT" is the simple interest formula, where:
I = interest
P = principle (the initial amount of money)
R = interest rate (as a decimal)
T = time (in years)
Given the values of P, R, and T:
P = 5,600
R = 0.2
T = 4
We can plug these values into the formula to find the interest:
I = P * R * T = 5,600 * 0.2 * 4 = 4,480
So, the interest earned on a principle of $5,600 at an interest rate of 0.2 (or 20%) for 4 years would be $4,480.