Simple interest is given by Prt, where P is the principal investment, r is the interest rate, and t is the number of years. What is the interest if $P = \$ 6800$ , $r = 0.08$ , and $t = 4$ years?
A)$ $1088$
B)$ $3264$
C)$ $2176$
D)$ $6528$
E)$ $4352$

Question

Quizplus · Accepted Answer

Using the formula $I=Prt$, we have:
$I = 6800 	imes 0.08 	imes 4 = 2176$
Therefore, the interest is $\$2176$, which corresponds to choice $	extbf{(C)}$.

Simple Interest Is Given by Prt, Where P Is the Principal