Answer:
ou want to calculate the interest on $800 at 9% interest per year after 4 year(s).
The formula we'll use for this is the simple interest formula, or:
I=P x r x t
P is the principal amount, $800.00.
r is the interest rate, 9% per year, or in decimal form, 9/100=0.09.
t is the time involved, 4....year(s) time periods.
So, t is 4....year time periods.
To find the simple interest, we multiply 800 × 0.09 × 4 to get that:
The interest is: $288.00
