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27 September, 05:56

Find the simple interest earned by each account. $800 principal at 4% interest for 5 years

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  1. 27 September, 07:33
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    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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