Question

If $230 is invested for one year at 8% simple interest, how much interest is earned?

Answer 1

Answer:

$18.40

Step-by-step explanation:

To find 8% of $230, we first have to find 1% of $230.

230 ÷ 100 = 2.30

Because 1% of $230 is $2.30, to find 8% we multiply $2.30 by 8

2.30 x 8 = 18.4

8% of $230 is $18.40