Answer:
$2400
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 8%/100 = 0.08 per year,
putting time into years for simplicity,
36 months ÷ 12 months/year = 3 years,
then, solving our equation
I = 10000 × 0.08 × 3 = 2400
I = $ 2,400.00
The simple interest accumulated
on a principal of $ 10,000.00
at a rate of 8% per year
for 3 years (36 months) is $ 2,400.00.
