Solve the problem.
-Find the interest if $2,400 is borrowed at 8% (or 0.08)for 3 years. (I = PRT)
A)$2,976
B)$576
C)$192
D)$1,920

Name: Solve the problem. -Find the interest if $2,400 is borrowed at 8% (or 0.08)for 3 years. (I = PRT) A)$2,976 B)$576 C)$192 D)$1,920
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Question

Quizplus · Accepted Answer

The interest can be calculated using the formula I = PRT, where P = principal amount ($2,400), R = annual interest rate (0.08), and T = time in years (3). Thus, I = $2,400 * 0.08 * 3 = $576.

Solve the Problem. -Find the Interest If $2,400 Is Borrowed at 8% (Or