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Ad libitum [116K]
3 years ago
12

Compute the amount of interest earned in the following simple interest problem. A deposit of $100 at 8% for 20 years=

Mathematics
1 answer:
dedylja [7]3 years ago
5 0
Use the formula
i = prt
p = principle amount = 100
r = rate of interest = 8% = 0.08
t = time in years = 20

i = 100*0.08*20 = 8*20 = 160

so the interest earned is $160
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