Simple interest earned on an investment of $1200 at 9% for 4 years

Question

asked May 22, 2023 191k views

1 Answer

Harpalss · Answer 1 · 2023-05-28T01:53:21+0000

Given that P= $1200 at an interest rate r= 9% per annum and for t= 4 years, we have:

E =Prt

$E=1200\cdot\:0.09\cdot\:4=432$

Thus, the earnings are: E = $432.