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24 May, 09:11

What is the interest if the principal is $10000 th interest rate 2% and the time is 8 years

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  1. 24 May, 11:42
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    the answer is 500

    Step-by-step explanation:

    step one is convert interest rate of 2% per 6 months into rate per year.

    step two is convert 9 months into years.

    step three Find principal by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.
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