Question

$600 8% 1 year in simple interest

Answer 1

$648.00 or you can say that you made $48 from simple interest

Explanation:

Plug the numbers into the formula A = P(1 + rt) and solve,

First, convert to a decimal

r = R/100 = 8%/100 = 0.08 per year.

Solving the equation:

A = 600(1 + (0.08 × 1)) = 648

A = $648.00