Question: Theformula for simple interest is , where I is the interest earned, P

Question

Question:                   Theformula for simple interest is , where Iis the interest earned, P is the principal (or initialamount deposited), R is the annual simple interest rate indecimal form, and T is the time in years. If Nekishainvests $2000 at an annual rate of 4% simple interest, how muchinterest will she earn in 8 years? Please i need help on this question. Thanks. Question:                   Theformula for simple interest is , where Iis the interest earned, P is the principal (or initialamount deposited), R is the annual simple interest rate indecimal form, and T is the time in years. If Nekishainvests $2000 at an annual rate of 4% simple interest, how muchinterest will she earn in 8 years? Please i need help on this question. Thanks.

Explanation / Answer

If you plug the values in I = (2000)(.04)(8) = 640

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.