An accountant invested $5000 at a simple intereste of 8 % for 2 years. What total amount of interest will› have from her investment?

Question

asked Jul 10, 2023 21.0k views

1 Answer

Tronbabylove · Answer 1 · 2023-07-16T15:52:13+0000

Given:

Principal, P = $5000

Interest rate, R = 8% = 0.08

Time, T = 2 years

Let's fnd the toatal amount of interest.

To find the interest, apply the simle interest formula:

$I=\text{PRT}$

Hence, we have:

$\begin{gathered} I=5000*0.08*2 \\ \\ I=800 \end{gathered}$

Therefore, the total amount of interest is $800.

ANSWER:

$800