Complete the table by finding the simple interest earned. Principal Rate Time Interest earned $ 13000 8 % 3 yrs. ?
A)$31200
B)$312000
C)$3120
D)$31.2
E)$312

Question

Quizplus · Accepted Answer

Simple interest formula: I = PRT

Given: 
Principal = $13000 
Rate = 8% 
Time = 3 years

Substitute the values into the formula: 
I = ($13000)(0.08)(3) 
I = $3120

Therefore, the simple interest earned is $3120. Answer choice C is the best option.

Complete the Table by Finding the Simple Interest Earned