SOLUTION: Find the amount of interest earned by investing $8000 at 5% annual simple interest rate for 1 year.
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Question 940767: Find the amount of interest earned by investing $8000 at 5% annual simple interest rate for 1 year.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Find the amount of interest earned by investing $8000 at 5% annual simple interest rate for 1 year.
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I = Prt
Interest = 8000*0.08*1 = $640.00
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Cheers,
Stan H.
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