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HURRY NEED HELP ASAP The following information is known about a loan. Time = 8 years Interest rate = 14% Principal = $1,010 What is the total amount of simple interest that is earned? $113.20 $1,131.20
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HURRY NEED HELP ASAP

The following information is known about a loan.

Time = 8 years
Interest rate = 14%
Principal = $1,010

What is the total amount of simple interest that is earned?
$113.20
$1,131.20
$11,311.20
$113,112.00

User Rob Bednark
by
7.8k points

2 Answers

1 vote

Answer:

1,131.20

Explanation:

I=prt

1,010*0.14*8

User Rhololkeolke
by
7.7k points
5 votes
I=p*r*t
The answer is 1131.20
User Komal Kadam
by
7.9k points
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