In the situation, simple interest is calculated yearly. how much interest was earned? drag and drop the answer into the box. principal: $8000; time: 4 years; interest rate: 12%; interest: ?

The simple interest be $3840 .

Step-by-step explanation:

Formula

As

Principal = $8000

Time = 4 years

Interest rate =12%

Put value in the above formula

Simple interest = $3840

Therefore the simple interest be $3840 .

$3840

Step-by-step explanation:

We know that the formula to calculate simple interest is given by :-

Given: Principal (P): $8000

Time (t): 4 years

Interest rate (r): 12% =0.12

Now, the simple interest earned is given by :-

Hence, Simple interest was earned = $3840