Answer:
The simple interest she earns is $80
p=500
r=8
t=2
Now,
SI=p×t×r/100
SI=500×2×8/100
SI=80
Answer:
[tex]\fbox{\begin{minipage}{5.5em}80 dollars\end{minipage}}[/tex]
Step-by-step explanation:
Given:
May invested $500 at 8% p.a. for 2 years.
Solve for:
The simple interest she earned.
Step 1: Define the formula to calculated the simple interest
Interest = Principal x Rate x Year
Step 2: Perform the calculation
With Principal = 500$, Rate = 8% = 8/100 = 0.08, and Year = 2
Interest = 500 x 0.08 x 2 = 80$
Hope this helps!
:)
