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Question 8 g Principal (p) = 1500, Rate (r) = 7%, Time (t) = 8 years. Calculate the Interest. n et A. C. $840 $2,340 B. D. $1200 $660

Question 8 g Principal (p) = 1500, Rate (r) = 7%, Time (t) = 8 years. Calculate the Interest. n et A. C. $840 $2,340 B. D. $1200 $660
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2 votes
Question 8

g Principal (p) = 1500, Rate (r) = 7%, Time (t)
= 8 years. Calculate the Interest.
n
et A.
C.
$840
$2,340
B.
D.
$1200
$660

asked
User Zufan
by
8.1k points

1 Answer

6 votes


~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\dotfill & \$1500\\ r=rate\to 7\%\to (7)/(100)\dotfill &0.07\\ t=years\dotfill &8 \end{cases} \\\\\\ I = (1500)(0.07)(8) \implies I = 840

answered
User Nick Fernandez
by
8.2k points
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