Find the simple interest earned by each account. $800 principal at 4% interest for 5 years
2 answers:
Answer:
$160
Step-by-step explanation:
Simple interest=principal×time×rate/100
Principal=$800
Time=5years
Rate=4%
S.I=800×5×4/100
S.I=8×4×5
S.I=160
So the simple interest is $160
Answer:
The simple interest is $160
Step-by-step explanation:
SSimple Interest SI = PRT/100
where p=principal, r=rate and t=time
p = $800, r = 4% and t = 5 years
SI = (800*4*5)/100
SI = 8*4*5
SI = $160
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