Question

The following information is known about a loan.

Time = 8 years
Interest rate = 14%
Principal = $1,010

What is the total amount of simple interest that is earned?
A. $113.20
B. $1,131.20
C. $11,311.20
D. $113,112.00

Answer 1

B do not mind this letters )&;6)?:sgnbcg

Answer 2

$1,131.20 / B

Explanation:

Look since the p is $1,010 you multiply it by the years / Y which is 8 giving you $8,080 then you multiply $8,080 times the Interest Rate / IR which is 14% giving you $1,131.20