Question

Find simple interest ,P=1000, R=4%, T=2.​

Answer 1

$simple \: interest = \frac{p \times r \times t}{100} \\ = \frac{1000 \times 4 \times 2}{100} \\ = 10 \times 8 = 80$

Answer 2

Answer:

A = $1,080.00

Step-by-step explanation:

Equation:

A = P(1 + rt)

First, converting R percent to r a decimal

r = R/100 = 4%/100 = 0.04 per year.

Solving our equation:

A = 1000(1 + (0.04 × 2)) = 1080

A = $1,080.00

The total amount accrued, principal plus interest, from simple interest on a principal of $1,000.00 at a rate of 4% per year for 2 years is $1,080.00.