SOLUTION: 9600 is invested at 8% per annum simple interest for 5 years. What is the amount of simple interest earn?

SOLUTION: 9600 is invested at 8% per annum simple interest for 5 years. What is the amount of simple interest earn?

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Question 701703: 9600 is invested at 8% per annum simple interest for 5 years.
What is the amount of simple interest earn?

Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
I = Prt

I = 9600*(0.08)*(5)

I = 3840

So the amount of simple interest earned is $3,840
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