Answer:
Simple interest = $528
Step-by-step explanation:
To calculate the simple interest, we are going to use the formula below;
S.I = P×R×T / 100
WHERE
P = Principal
R =Rate
T=Time given in years
and
S.I = Simple Interest
From the question,
Principal(p) is given to be equal to $2,200
Rate(R) is equal to 8
and
Time(T) is equal to 3
We can now proceed to substitute the values into the formula;
S.I = P×R×T / 100
= $2,200×8×3 / 100
=$52,800 / 100
=$528
Simple interest = $528
