How much principal must be deposited to earn $400 simple interest in 2 years at a rate of 5%? $40 $5,000 $8,000 $4,000

Satbir asked Oct 25, 2022

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13 votes

How much principal must be deposited to earn $400 simple interest in 2 years at a rate of 5%?

$40

$5,000

$8,000

$4,000

Satbir asked Oct 25, 2022

2.9k points

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18 votes

Answer:

$8,000 is the correct

Explanation:

is right

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