Answer:
To find the simple interest, we multiply 40000 × 0.12 × 10 to get that:
The interest is: $48000.00
Usually now, the interest is added onto the principal to figure some new amount after 10 year(s),
or 40000.00 + 48000.00 = 88000.00. For example:
If you borrowed the $40000.00, you would now owe $88000.00
If you loaned someone $40000.00, you would now be due $88000.00
Step-by-step explanation:
hope this helps!
