Question

In the situation, simple interest is calculated yearly. How much interest was earned? Drag and drop the answer into the box. Principal: $8000; Time: 4 years; Interest rate: 12%; Interest: ? $960$3,840$8,000$11,840$32,000

Answer 1

I = PRT
P = 8000
T = 4
R = 12%...turn to decimal...0.12
now we sub
I = (8000)(0.12)(4)
I = 3840 <==