Question

Question 8

g Principal (p) = 1500, Rate (r) = 7%, Time (t)
= 8 years. Calculate the Interest.
n
et A.
C.
$840
$2,340
B.
D.
$1200
$660

Answer 1

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$1500\\ r=rate\to 7\%\to (7)/(100)\dotfill &0.07\\ t=years\dotfill &8 \end{cases} \\\\\\ I = (1500)(0.07)(8) \implies I = 840`