natashalane5967 natashalane5967
  • 13-11-2018
  • Mathematics
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Sara invests ?9600 at a simple interest rate of 8% per year. Work out the value of the investment after 3 years

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10dawn 10dawn
  • 13-11-2018
$ 11,904

The formula is A = Prt to find the amount of simple interest earned.

P = principal or original amount of investment
r = rate of interest (in decimal form)
t = time in terms of years

A = (9600)(.08)(3)
A = $ 2304

$9600 + $2304 = $11,904
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