Question

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?​

Answer 1

The interest is 1600

Explanation:

1. I=10000×2%×8
2. I=1600