Hannah earned $1536 in 8 years on an investment at a 4% annual simple interest rate. How much was Hannah's investment?

$3072

$491.52

$768

$4800

Option B - $491.52

Step-by-step explanation:

Given: Hannah earned $1536 in 8 years on an investment at a 4% annual simple interest rate.

To find : How much was Hannah's investment

Solution : Investment = Principal * rate * time

Principal = $1536

Rate = 4% = 0.04

Time = 8 years

Investment = Principal * rate * time

Investment = 1536 * 0.04 * 8

Investment = 491.52

Therefore, Option B is correct - $491.52