Question

What is the interest is the principal is $10,000 the interest rate is 2% and the time is eight years

Answer 1

the answer is 160

Explanation:

take the interest percentage and divide by 100 ex:5.2%100=0.052

take the dollar amount and multiply interest decimal

ex:$450*0.052=23.40

take the sum of dollar amount and interest decimal and multiply by # of years of interest

ex:3 years *23.40=70.20

and that is how i got that answer