Answer:
C
Step-by-step explanation:
In this question, we are tasked with calculating the simple interest on an amount of money that was saved for two years.
Mathematically, simple interest can be calculated using the formula;
I = PRT/100
Where I is the amount of interest earned which we are trying to calculate
P is the principal which is the amount saved originally which is $8,500
R is the rate which is 4%
T is the time taken which is 2 years
Plugging these values, we have;
I = (8500 * 4 * 2)/100 = 68000/100 = $680
