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What is the simple interest earned on a $1,000 principle, with a 7.8% interest rate, after 4 years? (Show your work)
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What is the simple interest earned on a $1,000 principle, with a 7.8% interest rate, after 4 years? (Show your work)

User Nirav Dangi
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4.7k points

1 Answer

2 votes

Answer:

312

Explanation:

1000x.078=78 interest per year

78 interest x4 years=312 interest after 4 years.

User Jeremy Levett
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5.6k points
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