Attempt following question by selecting a choice to answer.
f
Find the simple interest for 8 years at a rate of
5% on
$400.BBB fffA.
f$160
B.
f$480
C.
f$320
D.
fNone of the above
ff
A
Step 1: Interest = p × r × t[Use the simple interest formula.]
Step 2: = 400 × 0.05 × 8[Substitute 0.05 for 5%.]
Step 3: = $160