Answer:
DE= 0.4
Step-by-step explanation:
So firstly, I'm going to be converting the mixed number into an improper fraction. To do this, multiply the whole number by the denominator and then add that product with the numerator and that will be your new numerator. In this case:
3 × 8 = 24, 24 + 3 = 27. 
Now since they have the same denominator, you can subtract the numerators.

Now simplify the number as such:

<u>In short, your answer is -17/4, or -4 1/4.</u>
The formula for simple interest is
I=PRT
here P=$1200
R=5% or 0.05
T=4 years
plugging in the formula we get
I=1200*0.05*4=240
Balance after four years =1200+240=$1440
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