Question

$1,200, 3.9%, 8months

Answer 1

1,200(1.039)^.66666
1200(1.02583386437)
$1231.00

Answer 2

Answer:

$1231

Step-by-step explanation:

Given,

Principal amount = $1200

Rate of interest = 3.9%

Time = 8 months or (8/12) 0.666667 years

Formula of simple interest = $A=P(1+rt)$

$A=1200(1+\frac{3.9\times 0.666667}{100})$

A = 1200(1+(0.039 × 0.666667))

A = 1200 (1+0.026)

A = 1200 (1.026)

A = $1231