At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Get quick and reliable solutions to your questions from a community of seasoned experts on our user-friendly platform. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.
Sagot :
Solution:
Given:
[tex]\begin{gathered} P=\text{ \$}12,000 \\ R=8\text{ \%} \\ T=1year \end{gathered}[/tex]Using the simple interest formula,
[tex]\begin{gathered} I=\frac{PTR}{100} \\ I=\frac{12000\times1\times8}{100} \\ I=\text{ \$}960 \end{gathered}[/tex]Therefore, the simple interest is $960.
Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.
