A principal of $2680 is invested for 2.5 years at a rate of 12%. What amount of interest will be earned?
A) $321.60
B) $3001.60
C) $3484.00
D) $290.33
E) $804.00

Question

Quizplus · Accepted Answer

The interest earned can be calculated using the simple interest formula: Interest = Principal × Rate × Time. Here, Principal = $2680, Rate = 12% or 0.12, and Time = 2.5 years. So, Interest = $2680 × 0.12 × 2.5 = $804.

A Principal of $2680 Is Invested for 2