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The simple interest formula is I=Prt, where / is the interest, P is the principal, is the interest rate, and t is the time. What is the interest if the principal is $10,000, the interest rate is 2%, and
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The simple interest formula is I=Prt, where / is the interest, P is the principal, is the interest rate, and t is the time. What is the interest if the principal is $10,000, the interest rate is 2%, and the time is 8 years?​

User Stukelly
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4.3k points

1 Answer

8 votes

Answer:

The interest is 1600

Explanation:

  1. I=10000×2%×8
  2. I=1600
User Timothy C
by
3.8k points
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